Pump prices down by over P1.00/liter Tuesday

Motorists will be greeted with lower pump prices of petroleum products this week, as oil firms announced another reduction to mark the fourth straight week of rollbacks for diesel and kerosene.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Seaoil Philippines Inc. said it they will roll back the prices per liter of gasoline by P1.65, diesel by P1.25, and kerosene by P1.35.

Cleanfuel, Eastern Petroleum Corp., and Petro Gazz, Phoenix Petroleum Philippines Inc., PTT Philippines Corp., and Unioil Petroleum Philippines Inc. will implement the same changes, excluding kerosene which they do not carry.

The adjustments will take effect at 6 a.m. on Tuesday, September 27, for all the firms, except for Caltex and Cleanfuel which will both carry out the changes at 12:01 a.m. the same day.

Other firms have yet to make similar announcements for the week.

Firms last week cut down prices per liter of diesel by P4.15 and kerosene by P4.45, while keeping gasoline prices unchanged.

Latest data available from the Department of Energy (DOE) show that the year-to-date total adjustments stood at a net increase of P18.15 per liter for gasoline, P31.70 per liter for diesel, and P27.10 per liter for kerosene as of August 23, 2022.—AOL/RSJ, GMA News