Gasoline, diesel, kerosene pump prices down by P1/liter Tuesday

Motorists will get a slight reprieve this week as fuel retailers on Monday announced rollbacks, but it will not be enough to offset the six straight weeks of increases for gasoline, four for diesel, and three for kerosene.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Seaoil Philippines Corp. and Shell Pilipinas Corp. said they will lower prices per liter of gasoline by P1.40, diesel by P1.80, and kerosene by P2.20.

Cleanfuel, Petro Gazz Ventures Philippines Corp., and PTT Philippines Corp. will implement the same changes, excluding kerosene which it does they do not carry.

The adjustments will take effect at 6 a.m. on Tuesday, July 1, for all the firms except for Cleanfuel which will roll back prices at 8:01 a.m. the same day.

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

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected a downward adjustment this week, citing the announcement of a ceasefire between Israel and Iran which calmed down global crude oil prices.

Firms last week hiked prices per liter of gasoline by a cumulative P3.50, diesel by P5.20, and kerosene by P4.80. — RSJ/RF, GMA Integrated News