Lower pump prices of petroleum products will greet motorists today as oil firms implement another round of rollbacks.
In an advisory, Petron Corp. and Pilipinas Shell Petroleum Corp. said it will cut down prices per liter of diesel by P3.95, gasoline by P0.85 and kerosene by P2.95.
Cleanfuel and Petro Gazz will implement the same changes, excluding kerosene which they do not carry.
The changes will take effect at 6 a.m. today for all the firms except for Cleanfuel which will adjust prices at 12:01 a.m. the same day.
The latest adjustments mark the second straight week of rollbacks for gasoline, and the sixth for both diesel and kerosene.
Latest data available from the Department of Energy (DOE) show that year-to-date total adjustments stood at a net increase of P17.75 per liter for gasoline, P33.85 per liter for diesel, and P27.85 per liter for kerosene as of Nov. 22, 2022.
A representative of the DOE’s Oil Industry Management Bureau (OIMB) last week said price cuts are expected due to the impact of higher COVID-19 cases in mainland China on fuel demand, the higher crude inventory in the United States, and the price cap imposed on Russian crude. (GMA Integrated News)
