Pump prices down by over P2/liter Tuesday

Motorists will be greeted with cheaper pump prices of petroleum products, as oil firms on Monday announced a big-time rollback to mark the third straight week of downward adjustments.

In separate advisories, Chevron Philippins Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will reduce prices per liter of gasoline by P2.20, diesel by P2.70, and kerosene by P2.55.

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

The changes will take effect at 6 a.m. on Tuesday, May 9 for all the firms except for Caltex and Cleanfuel which will implement the changes at 12:01 a.m. the same day.

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

Firms last week rolled back prices per liter of gasoline by P1.50, diesel by P1.30, and kerosene by P1.40.

The latest data available from the Department of Energy (DOE) indicate a net increase of P6.05 per liter for gasoline, and net decreases of P4.35 per liter for diesel and P4.95 per liter for kerosene as of May 2, 2023. — RSJ, GMA Integrated News