MOTORISTS will get a slight reprieve starting today, as fuel retailers yesterday announced another round of pump price rollbacks to mark the third straight week of cuts for diesel and kerosene.
In separate advisories, Petron Corp., Seaoil Philippines Corp. and Pilipinas Shell Petroleum Corp. said that they will lower prices per liter of gasoline by P0.50, diesel by P0.25, and kerosene by P0.30.
Cleanfuel and Petro Gazz will implement the same changes, excluding kerosene which they do not carry.
The adjustments will take effect at 6 a.m. today, for all the firms except Cleanfuel which will cut prices at 12:01 a.m. of the same day.
Other companies have yet to release their price adjustments for the week as of posting time.
Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero earlier attributed the rollbacks to the fluctuating demand concerns in China and US and the expected oil supply from non-OPEC countries that continue to rise.
Firms last week hiked prices per liter of gasoline by P0.50, while lowering those of diesel by P0.40 and kerosene by P0.35.
This brought the year-to-date adjustments to a net increase of P5.95 per liter for gasoline, P4.05 per liter for diesel, and P0.05 per liter for kerosene as of March 5, 2024. (GMA Integrated News)
