MANILA – After months of consecutive price hikes, oil firms on Monday announced a reduction in pump prices of petroleum products starting today.
Pilipinas Shell Petroleum Corporation said it will roll back prices per liter of gasoline by P0.75, diesel by P0.60, and kerosene by P0.60.
Cleanfuel and Petro Gazz will implement the same changes, excluding kerosene which they do not carry.
The changes will take effect at six in the morning today for all firms except for Cleanfuel, which will adjust prices 8:01 a.m. the same day.
Prior to this week’s adjustments, gasoline prices were hiked for nine straight weeks and diesel by 14 weeks. Gasoline prices were last rolled back on May 18.
Latest data available from the Department of Energy (DOE) showed that year-to-date adjustments stand at a total net increase of P13.60 per liter for gasoline, P10.90 per liter for diesel, and P9.30 per liter for kerosene as of July 20.(GMA News)
