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Gasoline, diesel, kerosene prices down Tuesday

Pump prices of petroleum products will be rolled back this week, following the increases implemented by oil firms last Tuesday.

In separate advisories, Chevron Philippines Inc. (Caltex), Pilipinas Shell Petroleum Corp., Petron Corp., and Seaoil Philippines Corp. said they will reduce prices per liter of gasoline by P0.70, diesel by P1.30, and kerosene by P1.80.

Cleanfuel, 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 changes will take effect at 6 a.m. on Tuesday, February 28, for all the firms except for Caltex and Cleanfuel which will both adjust prices at 12:01 a.m. the same day.

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

Firms last week hiked prices per liter of gasoline by P0.90 and diesel by P1.05, while rolling back kerosene by P0.25.

Latest data available from the Department of Energy (DOE) show that year-to-date net decreases stood at P1.10 per liter for diesel and P0.50 per liter for kerosene, and a net increase of P6.00 per liter for gasoline as of February 21, 2023. — RSJ, GMA Integrated News