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Gasoline prices on rollback by P1.10/liter, diesel P0.60/liter

Business

Gasoline prices on rollback by P1.10/liter, diesel P0.60/liter

By Myrna M. Velasco

Gasoline products are being rolled back anew by P1.10 per liter while diesel prices will be trimmed by P0.60 per liter.

Kerosene, which is the other commodity in the triumvirate of weekly price adjustments, will also have a price cut of P0.50 per liter, as announced by the oil companies.

As of press time, the industry players that already announced price rollbacks had been Pilipinas Shell Petroleum Corporation, Cleanfuel, Seaoil, PetroGazz and Chevron effective Tuesday, Nov. 30, while their competitor-firms are anticipated to follow this week’s pricing trends.

Another commodity that is expected to ease off consumers’ pockets will be liquefied petroleum gas (LPG), with cost reductions expected to be enforced also starting Wednesday, Dec. 1.

For fuel products at the pumps, the four straight weeks of successive rollbacks already resulted in aggregate price cuts of P3.85 per liter for gasoline; P2.40 per liter for diesel; and P2.55 per liter for kerosene.

A monitoring report of the Department of Energy (DOE) showed that prior to this round of rollbacks, price adjustments since the start of the year still incurred net increases of P20.05 per liter for gasoline; P15.09 per liter for kerosene; and P17.50 per liter for diesel.

Related Tags

#OILPRICES #ROLLBACK #GLOBALPRICES #COVIDVARIANT #OMICRON #DOE #MOBILITYRESTRICTIONS

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