MANILA – Major oil companies in the Philippines are set to implement a price rollback on petroleum products starting Tuesday, providing a measure of relief to consumers.
According to Philippines News Agency, fuel providers including Cleanfuel, Caltex, Jetti, Petro Gazz, PTT, Seaoil, and Shell have announced reductions in their pump prices. Gasoline prices will see a cut of PHP0.45 per liter, while diesel prices will drop by PHP1.10 per liter. Additionally, Caltex, Seaoil, and Shell will lower kerosene prices by PHP1.05 per liter. These adjustments are expected to be matched by other firms in the industry. The previous week witnessed a mixed price adjustment, with gasoline prices rising and costs for diesel and kerosene falling. Following last week’s changes, pump prices in Metro Manila varied, with gasoline available between PHP57.65 to PHP86.85 per liter, diesel from PHP58.25 to PHP83.95 per liter, and kerosene ranging from PHP75.85 to PHP88.19 per liter. Concurrently, OilPrice.com data reflects the price of West Texas Intermediate (WTI) crude at USD80.95 per barrel and Brent crude trading at USD85.27 per barrel.