Fuel price rollback to take effect next week

Petron Corp., Shell and Cleanfuel on Saturday announced a rollback in the prices of their fuel products effective next week.

In separate advisories, Petron and Shell said they will implement the following price reductions effective 6 a.m. on Tuesday, Nov. 5, 2019:

• gasoline: down by P0.10/liter
• diesel: down by P0.25/liter
• kerosene: down by P0.10/liter

"These reflect movements in the international oil market," Petron said.

Cleanfuel, meanwhile, will implement the same adjustments on diesel and gasoline, effective at 4:01 p.m. on Sunday, November 3.

Unioil Petroleum Philippines said the price per liter of diesel is expected to go down by P0.20 to P0.30 while gasoline may be slashed by P0.10 to P0.15 per liter. 

Another oil industry source said the price of diesel may be reduced by up to P0.30 per liter and gasoline by up to P0.15 per liter.

Fuel firms usually announce price adjustments every Monday, to be implemented the following day.

Year-to-date adjustments stood at a net increase of P5.61 per liter for gasoline, P4.02 per liter for diesel, and P0.96 per liter for kerosene. —KG, GMA News