Fuel prices down this week
Major fuel pump price rollback set on Tuesday, Oil firms on Monday announced another round of rollbacks to mark the fourth straight week of decrease in Gasoline, Diesel, and Kerosine prices, December 12, 2022. In separate advisories, Pilipinas Shell Philippines Corp. said they will cut down prices per liter of gasoline by P1.70, diesel by P3.40, and kerosine by P4.40. PHOTO BY: MIKE DE JUAN
LOCAL oil companies rolled back pump prices on Tuesday, April 30, 2024.
Shell, Seaoil, Cleanfuel, PetroGazz, Jetti Petroleum, Caltex, PTT, Unioil and Flying V dropped the price of gasoline by 25 centavos per liter and diesel by 45 centavos per liter.
Kerosene had the biggest price cut at 90 centavos per liter.
The Department of Energy’s Oil Industry Management Bureau said the reduction in prices was attributable to the easing Israel-Iran conflict, the delayed US Federal Reserve rate cut, and several global economic indicators like the shrinking of China’s Consumer Price Index and the downtrend in US durable goods data.
Since April 23, the price of diesel has dropped by 95 centavos and kerosene by P1.10. Gasoline prices have risen by 55 centavos.
For the year, all fuel prices have gone up, with gasoline by P10.25, diesel by P6.05 and kerosene by P1.15.