Oil price rollback set Aug. 6

OIL PRICES. An attendant fills up a car fuel tank at a gasoline station in Quezon City. Oil companies will reduce fuel prices on Tuesday (Aug. 6, 2024), implementing rollbacks for diesel and kerosene prices for four straight weeks. (PNA photo by Ben Briones)

By Kris Crismundo | Philippine News Agency

Oil companies will reduce fuel prices on Tuesday, implementing rollbacks for diesel and kerosene prices for four straight weeks.

In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will slash gasoline prices by 10 centavos per liter and 20 cents per liter for diesel.

Caltex, Seaoil, and Shell will also cut kerosene prices by 45 cents per liter.

Other oil firms are expected to follow suit.

Data from the Department of Energy (DOE) showed that current retail pump prices ranged from P54 to P88.07 per liter for gasoline, P51 to P76.15 per liter for diesel, and from P72.34 to P83.70 per liter for kerosene.

“Year-to-date, total adjustment of gasoline and diesel stands at a net increase of P9.60 per liter and P6.85 per liter, respectively. On the other hand, kerosene has a total net decrease of P0.30 per liter,” the DOE said.

Earlier, the DOE said weaker oil prices this week is mainly due to easing demand from China and Organization of Petroleum Exporting Countries’ plan to pump more output in the global market.

Popular

PBBM extends condolences, solidarity over tragic Lapu-Lapu Day Incident in Vancouver, Canada

By Dean Aubrey Caratiquet Lapu-Lapu Day is a celebration held on the 27th of April in honor of the Visayan chieftain who defeated Spanish forces...

Philippine typhoon victims remember day Pope Francis brought hope

By Agence France-Presse Fourteen months after the deadliest storm in Philippine history, Pope Francis stood on a rain-swept stage to deliver a message of hope...

PBBM forms National Task Force Kanlaon, inks Phivolcs’ modernization law

By Ruth Abbey Gita-Carlos | Philippine News Agency President Ferdinand R. Marcos Jr. has created the National Task Force Kanlaon that will oversee and coordinate...

Palace orders probe into China’s alleged interference in midterm polls

By Ruth Abbey Gita-Carlos and Wilnard Bacelonia | Philippine News Agency Malacañang on Friday ordered the immediate and deeper investigation into China’s alleged interference with...