PUMP PRICE ROLLBACK SET TUESDAY

Motorists will get a slight reprieve starting Tuesday, as firms announced another round of rollbacks to mark the second straight week of cuts for diesel and kerosene, and the first for gasoline after six straight weeks of increases.

In separate advisories Monday, Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will lower prices per liter of gasoline by P0.25, diesel by P0.45, and kerosene by P0.90.

Cleanfuel will implement the same changes, excluding kerosene which it does not carry.

The adjustments will take effect at 6 a.m. on Tuesday, April 30, for all the firms except for Cleanfuel which will implement the changes at 12:01 a.m. the same day.

Other firms have yet to make similar announcements for the week.

The Department of Energy’s Oil Industry Management Bureau (DOE-OIMB) earlier projected pump price rollbacks this week, citing the easing fears of an Iran-Israel escalation, uncertainties on the demand outlook, and the continuous increase in US crude inventories.

Firms last week hiked prices per liter of gasoline by P0.55, while reducing those of diesel by P0.95, and kerosene by P1.10.

This brought year-to-date adjustments to a net increase of P10.25 per liter for gasoline, P6.05 per liter for diesel, and P1.15 per liter for kerosene as of April 23, 2024.—AOL, GMA Integrated News

This article Pump price rollback set Tuesday was originally published in GMA News Online.

2024-04-29T04:08:04Z dg43tfdfdgfd