Oil prices down for 3rd straight week

Kerosene prices will also be lower by PHP1.65 per liter at Caltex, Seaoil and Shell fuel stations. (Pixabay photo)

By Kris Crismundo, Philippine News Agency

MANILA – Oil companies will implement another big-time rollback on pump prices on Tuesday.

In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they will slash gasoline prices by PHP1 per liter, and diesel prices by another PHP1.30 per liter.

Kerosene prices will also be lower by PHP1.65 per liter at Caltex, Seaoil and Shell fuel stations.

This is the third consecutive week that oil firms have cut prices on petroleum products.

With the price adjustments last week, current gasoline prices in Metro Manila range from PHP50 to PHP84.32 per liter, diesel from PHP46.74 to PHP70.40 per liter, and kerosene from PHP68.27 to PHP78.79 per liter.

“Year-to-date, total adjustment of gasoline and diesel stands at a net increase of PHP5.85 per liter and PHP3.05 per liter, respectively, while kerosene has a total net decrease of PHP4.70 per liter,” the energy department said.