MANILA, Philippines – The price of gasoline will have a price rollback of P1.45 per liter this week, according to industry players.
Meanwhile, a P0.60 per liter price cut for diesel and a P1 cut per liter for kerosene also takes effect.
So far, the oil companies that already advised on price cuts include Pilipinas Shell Petroleum Corporation, Seaoil, PetroGazz, PTT Philippines, Total, Chevron and Unioil effective on Tuesday (October 1).
Cleanfuel on Sunday (September 29) have already rolled back its prices by P1.50 per liter for gasoline and P0.50 per liter for diesel.
Meanwhile, an additional P4 to P5 per kilogram increase in the price of liquefied petroleum gas (LPG) will also be imposed.
The effect of the price increase, however, is yet to manifest in retail markets, according to oil companies.
With this, the pick-up price of cooking fuel will have an additional P44 to P55 per 11-kilogram cylinder.
The price adjustments come on the heels of the drone attacks on two large oil facilities of Saudi Aramco which specifically affected the price of Dubai crude and prompted global oil prices to soar to over US$67 per barrel.
Prices of Liquefied Petroleum Gas (LPG) will drop starting Monday, July 1.
In separate advisories released on Sunday (June 30), Petron Corporation and Phoenix LPG Philippines Inc. said the price of their auto LPG will go down by P1.90 per liter and cooking gas by P3.40 per kilogram.
LPG price cuts took effect at 12:01 a.m. on Monday.
Fuel firms said the adjustment is implemented to reflect the international contract price of LPG for the month of July.
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