MANILA – Oil companies announced minimal decrease on pump prices starting Tuesday morning.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil and Shell said they will roll back gasoline prices by PHP0.75 per liter and diesel by PHP0.65 per liter.
Caltex, Seaoil and Shell will also slash kerosene prices by PHP0.60 per liter.
Other oil firms are expected to follow suit.
With these price adjustments, gasoline prices have been down for three weeks while diesel and kerosene have declined for four consecutive weeks.
According to the Department of Energy, gasoline prices currently ranged from PHP57.10 to PHP85.70 per liter; diesel, from PHP54.25 to PHP79.85; and kerosene, from PHP72 to PHP82.60.
As of writing, data from OilPrice.com showed that West Texas Intermediate was trading at USD76.45 a barrel while Brent crude stood at USD81.23 per barrel. (PNA)