MANILA – Motorists can expect big-time price rollback on diesel products starting on Tuesday.
This, as oil firms Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell announced that they will slash diesel prices by PHP3.10 per liter.
However, the rollback for this week is lower than the PHP4.20-per-liter increase on diesel and gasoline prices by oil firms last Tuesday.
The same oil players will also reduce gasoline prices by PHP0.40 per liter.
Caltex, Seaoil, and Shell will also slash kerosene prices by PHP2.10 per liter.
The oil price adjustments will take effect at 12:01 a.m. Tuesday.
Since the start of the year, diesel prices had a net increase of PHP33.40 per liter; gasoline, with a net increment of PHP21.25 per liter; and kerosene, with a net hike of PHP28.80 per liter.
Oil prices have been volatile in the past weeks, with increases mainly driven by the ongoing war between Russia and Ukraine, while pandemic-related restrictions have been trying to slow down crude oil prices. (PNA)