A major price cut on petroleum products will be implemented starting Tuesday, Feb. 7.
According to oil companies, diesel products will have a price rollback of P2.60 to P3.00 per liter, while P1.20 to 2.20 per liter on gasoline, and P2.40 to P2.80 per liter on kerosene.
The said rollback was caused by a decline in global fuel prices and the strengthening of the Philippine peso against the dollar.
According to the Department of Energy’s monitoring, the price of gasoline has increased to more than P7.00 per liter, diesel to over P3.00, and kerosene to more than P4.00 in early 2023. KC/Report from Joshua Garcia – gb
