Oil firms announced Monday another round of fuel price rollback starting Tuesday.
They said in separate announcements that gasoline prices will go down by P0.90 per liter and kerosene by P0.10 per liter. Diesel prices remain unchanged.
Seaoil, PTT Philippines, Petron, Shell, Total and Caltex will adjust their pump prices at 6 a.m. of November 16 to reflect this week’s price adjustment. Cleanfuel, meanwhile, will implement the price rollback at 8:01 a.m.
Other oil firms are expected to also implement the same price rollback.
The latest price adjustment is the second consecutive week of price reduction for gasoline and third for kerosene. Diesel price was also reduced twice last November 2 and 9.
Based on the monitoring of the Department of Energy (DOE), global oil prices slumped last Thursday, ending another week of declining oil prices.
The year-to-date adjustments, excluding this week’s price movement, stand at a net increase of P20.95 per liter for gasoline, P17.50 per liter for diesel and P15.09 per liter for kerosene.