Big-time oil price rollback set Tuesday

PNA photo by Ben Briones

By Kris Crismundo | Philippine News Agency

Motorists and consumers can expect lower fuel prices starting Tuesday morning.

In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said they will slash gasoline prices by P2.45 per liter and diesel prices by P1.90 per liter.

Caltex, Seaoil, and Shell will also roll back kerosene prices by P2.40 per liter.

Other oil companies are expected to follow suit.

The Department of Energy (DOE) last week said global oil prices were mostly influenced by the growing concerns on weak consumption in China and “a worsening outlook for global economy.”

The appreciation of the Philippine peso against the US dollar also backed the lower oil prices this week, it added.

“Year-to-date, total adjustment of gasoline and diesel stands at a net increase of P9.50 per liter and P6.65 per liter, respectively. On the other hand, kerosene has a total net decrease of P0.75 per liter,” the DOE said.

Popular

PBBM cites efforts to build ‘future-ready’ PH

By Ruth Abbey Gita-Carlos | Philippine News Agency The Philippines will be “future-ready” through fair taxation, relief for workers and measures to ease the cost...

PBBM champions early childhood education

By Brian Campued President Ferdinand R. Marcos Jr. on Friday distributed 35 school bags and a Starlink unit in La Paz Child Development Center (CDC)...

PBBM welcomes expansion of Bulacan cold storage facility

By Brian Campued President Ferdinand R. Marcos Jr. touted the expansion of the Royale Cold Storage (RCS) facility in Bulacan as a welcome development in...

Palace: PBBM wants to boost defense to protect PH territory

By Ruth Abbey Gita-Carlos | Philippine News Agency President Ferdinand R. Marcos Jr. is pushing for stronger defense to protect Philippine territory, particularly in the...