Minimal cut on pump prices set Oct. 22

PRICE ROLLBACK. A gas station attendant fills up a motorcycle fuel tank in Paco, Manila on Oct. 14, 2024. Oil companies will implement a less than P1 rollback in diesel, kerosene, and gasoline starting on Tuesday, Oct. 22. (Photo courtesy of Yancy Lim/PNA)  

By Kris Crismundo | Philippine News Agency

After three straight weeks of price hikes, oil firms will cut pump prices effective Tuesday.

In separate advisories on Monday, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said they will roll back gasoline prices by 50 centavos per liter, diesel by 70 centavos per liter, and kerosene by 85 centavos per liter.

Other oil firms are expected to follow suit.

For the three consecutive weeks of oil price hikes, gasoline prices have increased by P3.10 per liter, diesel by P4.80 per liter, and kerosene by P3.60 per liter.

“Year-to-date, total adjustment of gasoline and diesel stands at a net increase of P9.05 per liter and P6.75 per liter, respectively. On the other hand, kerosene has a total net decrease of P2.75 per liter,” the Department of Energy (DOE) said.

DOE data showed that current gasoline prices ranged from P50.60 to P87.52 per liter, from P47.75 to P72.65 per liter for diesel, and from P69.89 to P80.74 per liter for kerosene.

Oil prices in the global market closed trading weaker last week on China’s demand woes following the easing of its economy.

Popular

Palace slams attempt against NegOr contractor, vows to dismantle espionage networks

By Dean Aubrey Caratiquet Amid consecutive developments arising from President Ferdinand R. Marcos Jr.’s revelation of ‘ghost’ and anomalous flood control projects in his 4th...

Student Beep card with 50% discount available starting Sept. 1 —DOTr

By Brian Campued The Department of Transportation (DOTr) is set to roll out white and personalized Beep cards to make commuting more convenient and more...

Palace: China cannot stop PH from asserting its territorial rights

By Brian Campued Malacañang on Friday reiterated that the Philippines will not be deterred in its efforts to defend its territorial and maritime interests in...

D.A. brings P20 rice to fisherfolk; affordable rice for jeepney, tricycle drivers soon

By Brian Campued As part of the continuous expansion of the “Benteng Bigas Meron (BBM) Na” Program of President Ferdinand R. Marcos Jr. to various...