Diesel prices down P2.90/L today; LPG up this month

MANILA, Philippines, December 2 ------ Oil firms are having a major rollback in diesel and kerosene today, while liquefied petroleum gas (LPG) consumers should brace for a price hike this December.

In separate advisories, Jetti, Seaoil, Petron, Caltex and PTT Philippines announced a price cut of P2.90 and P3.20 per liter for diesel and kerosene, respectively. Gasoline prices, meanwhile, are set to increase by P0.20 per liter.

The Department of Energy (DOE) has attributed the rollback to renewed expectations of a potential US-brokered peace deal between Ukraine and Russia. DOE Oil Industry Management Bureau assistant director Rodela Romero said the ceasefire could lift Western sanctions on Russia’s oil industry that were imposed over its invasion of Ukraine.

This week’s adjustments brought the year-to-date net increases for diesel and kerosene down to P21.75 and P6.75 per liter, respectively, while pushing gasoline’s rise up to P19.90 per liter. For LPG, prices of Petron and Solane-branded products went up by P2 and P1.64 per kilo this month, respectively. “This reflects the international contract price of LPG for the month of December,” Petron said.

Source: philstar.com