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: Launch of new dairy farm to boost local milk production, supply

By Ruth Abbey Gita-Carlos | Philippine News Agency President Ferdinand R. Marcos Jr. on Friday expressed optimism that the inauguration of the Farm Fresh Milk...

PBBM leads distribution of various aid to Aeta communities in Pampanga

By Brian Campued In celebration of the National Indigenous Peoples Month this October, President Ferdinand R. Marcos Jr. led the turnover of various forms of...

PBBM vows sustained recovery efforts in Cebu after deadly quake

By Brian Campued President Ferdinand R. Marcos Jr. on Thursday assured Cebuanos that the government will continue to provide assistance in Cebu as it reels...

PBBM to soldiers: Serve the citizenry, protect the homeland

By Dean Aubrey Caratiquet “Panata ito ng katapatan sa tungkulin at paninindigan para sa bayan.” At the oath-taking ceremony of 29 newly promoted generals and flag...