Oil companies slash pump prices of fuel
FILE PHOTO
MANILA, Philippines — Oil companies reduced on Tuesday the pump prices of petroleum products after raising them for two straight weeks.
In separate advisories, oil companies on Tuesday cut the price of gasoline by P2.60 per liter, diesel by P1.55 per liter, and kerosene by P1.60 per liter.
Gasoline prices rose by P1.40 per liter while that of diesel and kerosene climbed by P6.10 per liter each last week.
Cumulative increases now stand at P16.95 per liter for gasoline, P36.25 per liter for diesel, and P31.60 per liter for kerosene.
In the National Capital Region, the prevailing pump price of gasoline as of Sept. 1 ranges from P65.10 to P81.55 per liter, based on the Department of Energy’s price monitoring. The retail price of diesel ranges from P71 to P89.65 per liter while kerosene is sold from P83.65 to P93.80 per liter.
The Asian bellwether Dubai crude is trading at $96 per barrel while the international benchmark Brent crude is at $95 per barrel.
—JORDEENE B. LAGARE
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