Oil firms are set to reduce pump prices of petroleum products on Tuesday to mark the second straight week of rollbacks, but net increases for the year remain over P16.00 per liter.
In an advisory, Pilipinas Shell Petroleum Corp. said it will lower prices per liter of gasoline by P1.00, diesel by P0.35, and kerosene by P3.00.
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. on Tuesday, April 12, for all firms except for Cleanfuel which will implement the changes at 8:01 a.m. the same day.
Other firms have yet to make similar announcements for the week.
Domestic pump prices have been on an uptrend in 12 out of the past 14 weeks, which the Department of Energy (DOE) has repeatedly attributed to the ongoing conflict between Russia and Ukraine that has hit global supplies and drove global prices higher.
Latest data available from the DOE indicate that year-to-date adjustments stand at a net increase of P16.00 per liter for gasoline, P26.00 per liter for diesel, and P24.10 per liter for kerosene as of April 5, 2022.
Same data show that prices in Metro Manila range from P64.75 per liter (Caloocan) to P85.40 per liter (Muntinlupa) for gasoline; and from P65.80 per liter (Quezon City) to P83.49 per liter (Pasay) for kerosene as of April 5, 2022.—AOL, GMA News
Second straight week of oil price rollbacks set Tuesday
Source: News Panda Philippines
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