Oil prices down by at least P2/liter

August 9 ------ Motorists will be greeted with lower pump prices of petroleum products this week, as oil firms announced another round of rollbacks to take effect today.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Inc. cut down prices per liter of gasoline by P2.10, diesel by P2.20, and kerosene by P2.55 today. Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., PTT Philippines Corp., and Unioil Petroleum Philippines Inc. also implemented the same changes, excluding kerosene which they do not carry. The changes took effect today at 6 a.m. for all the firms except for Cleanfuel who adjusted prices at 8:01 a.m., and Caltex at 12:01 a.m. the same day. Other firms have yet to announce similar changes for the week.

Latest data available from the Department of Energy (DOE) shows that year-to-date adjustments stand at a net increase of P19.65 per liter for gasoline, P32.35 per liter for diesel, and P27.30 per liter for kerosene as of August 2, 2022.

Source: gmanetwork.com