Oil firms bare hefty cuts in prices of diesel, kerosene | Inquirer News

Oil firms bare hefty cuts in prices of diesel, kerosene

/ 04:50 AM September 20, 2022

Stock photo of fuel pumps. STORY: Oil firms bare hefty cuts in prices of diesel, kerosene

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MANILA, Philippines — Oil companies on Tuesday slashed the prices of diesel and kerosene for the third consecutive time.

In separate advisories, companies announced a reduction of P4.15 per liter for diesel and P4.45 per liter for kerosene. No price adjustment on gasoline was made.

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The price of gasoline last week dropped by P0.45 per liter last week while that of diesel and kerosene decreased by P1.45 and P1.70.

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Cumulative increases stand at P16.50 per liter for gasoline, P30.65 per liter for diesel, and P25.45 per liter for kerosene.

The price of Dubai crude, the Asian bellwether, is nearing the $92 per barrel level while Brent crude is trading at around $90 per barrel.

—JORDEENE B. LAGARE

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