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MANILA, Philippines — After raising pump prices for two straight weeks, oil companies cut the prices of their petroleum products effective on Tuesday.
The prices of diesel and kerosene declined by P1.15 per liter each while gasoline slid by P0.65 per liter.
Companies that made the announcement include Chevron Philippines (Caltex), Cleanfuel, Jetti, Metro Oil, Petro Gazz, Pilipinas Shell, PTT Philippines, Seaoil Philippines, and Unioil.
Others were expected to follow suit. Based on the Department of Energy’s weekly monitoring, gasoline prices have gone up by P18.45 per liter, diesel by P31.45 per liter and kerosene by P25.05 per liter before this week’s decrease.
Fuel prices in Metro Manila range from as low as around P65 per liter or as high as about P85 per liter depending on the grade.
Oil prices are mainly hinged on Dubai crude, the Asian bellwether, that slightly rose to $102.65 a barrel as of Monday.
—JORDEENE B. LAGARE
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