By Kris Crismundo | Philippine News Agency
Big-time price rollbacks on petroleum products are expected on Tuesday.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they will reduce gasoline prices by P1.55 per liter while slashing diesel prices by P1.30 per liter.
Caltex, Seaoil, and Shell will also cut kerosene prices by P1.40 per liter.
Other local oil industry players are also expected to follow suit.
Last week, oil firms implemented increments of below P1 per liter on pump prices.
With the price adjustments last week, Department of Energy (DOE) data showed that year-to-date prices of gasoline and diesel stood at a net increase of P7.40 per liter and P4.35 per liter, respectively.
On the other hand, kerosene prices had a net decrease of P3.30 per liter year-to-date.
DOE data also showed that current prices of gasoline range from P51.80 to P85.87 per liter, diesel from P48 to P71.70 per liter, and kerosene from P69.34 to P83.70 per liter.
