LOCAL pump prices will go down this week, oil firms announced on Monday.
Gasoline prices will be reduced by P2.30 per liter, diesel by P1.85 per liter and kerosene by P1.65 per liter.
The price reduction will take effect today, Tuesday, at 6 p.m. for Seaoil, Petron, Shell, Caltex, Total, Unioil, PTT, and Phoenix. For Cleanfuel, the price rollback is effective at 8:01 a.m.
This week’s price adjustment is the second rollback since the start of the year.
Oil prices were on the rise for 11 consecutive weeks since this year brought about by movements in the world oil market.
Last week, oil firms implemented a price increase in domestic oil products. Gasoline has increased by P3.40 per liter, diesel by P8.65 per liter, while kerosene by P9.40 per liter.
These resulted to the year-to-date adjustments to stand at a net increase of P18.30/liter for gasoline, P27.85/liter for diesel and P25.75/liter for kerosene.
Oil firms adjust their pump prices every week. 30
Image credits: Nonie Reyes