Business and Economy
Oil price rollback set Tuesday
Caltex, Shell, and Seaoil will also slash kerosene prices by PHP0.
50 per liter. (Pexels Photo)
By Anna Leah Gonzales, Philippine News Agency
MANILA – After three consecutive weeks of price hikes this year, motorists are expected to enjoy lower fuel prices as oil firms are set to implement a rollback on Tuesday.
In separate advisories on Monday, Shell, Seaoil, Caltex, PetroGazz, and CleanFuel said they will reduce diesel and gasoline prices by PHP0.
20 and PHP0.80 per liter, respectively.
Caltex, Shell, and Seaoil will also slash kerosene prices by PHP0.50 per liter.
Other oil firms are expected to follow suit.
Data from the Department of Energy showed that as of Jan. 21 this year, gasoline has a total net increase of PHP3.45 per liter.
Diesel, meanwhile, has a total net hike of PHP5 per liter, while kerosene has a total net increase of PHP4.30 per liter.
