Oil firms are set to roll back the pump prices of petroleum products on Tuesday, marking the second straight week of downward adjustments for diesel and kerosene.
In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Corp. said they will reduce prices per liter of gasoline by P1.20, diesel by P1.85, and kerosene by P2.00.
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, March 21, 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.
Latest data available from the Department of Energy (DOE) indicate a year-to-date net decrease of P1.00 per liter for diesel and P1.65 per liter for kerosene, and a net increase of P1.00 per liter for gasoline as of March 14, 2022.
Oil firms last week hiked prices per liter of gasoline by P1.00, while reducing those of diesel by P0.10, and kerosene by P0.60.—AOL, GMA Integrated News