Diesel, kerosene down P2 per liter today; gasoline unchanged

MANILA, Philippines, February 14 ------ Oil firms are slashing diesel and kerosene prices by more than P2 per liter for the second straight week, while no adjustments are being made on the prices of gasoline.

In separate advisories yesterday, oil companies said diesel would decrease by P2.20 per liter and kerosene by P2.50 per liter. The price adjustments will take effect at 6 a.m. today for most companies, except for Caltex and Cleanfuel which implemented the adjustments at 12:01 a.m. The reduction in diesel and kerosene prices reflect the movement in the international oil market.

This week’s price adjustments extend to a second consecutive week the decline in the prices of diesel and kerosene. Last week, oil firms slashed diesel prices by P3 per liter, kerosene by P2.30 per liter and gasoline by P2.10 per liter, ending a series of price increases in previous weeks. These resulted in a total year-to-date net increase of P5.10 per liter for gasoline, P0.05 per liter for diesel and P2.25 per liter for kerosene, data from the Department of Energy showed.

Source: philstar.com