Manila: Big-time price rollbacks on petroleum products are expected on Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil, and Shell said they will reduce gasoline prices by PHP1.55 per liter while slashing diesel prices by PHP1.30 per liter. Caltex, Seaoil, and Shell will also cut kerosene prices by PHP1.40 per liter. Other local oil industry players are also expected to follow suit. Last week, oil firms implemented increments of below PHP1 per liter on pump prices. With the price adjustments last week, Department of Energy (DOE) data showed that year-to-date prices of gasoline and diesel stood at a net increase of PHP7.40 per liter and PHP4.35 per liter, respectively. On the other hand, kerosene prices had a net decrease of PHP3.30 per liter year-to-date. DOE data also showed that current prices of gasoline range from PHP51.80 to PHP85.87 per liter, diesel from PHP48 to PHP71.70 per liter, and kerosene from PHP69.34 to PHP83.70 per liter. Source: Philippines News ag ency
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