• CHERYL G. CRUZ
A hefty rollback in the pump prices of petroleum products will take effect tomorrow, Aug. 13, with diesel set to decrease by P1.80 to P2 per liter, gasoline by P2.10 to P2.30/L, and kerosene by P2.20 to P2.50/L.
The exact adjustments will be known today. Aug. 12.
This will be the fifth straight week of rollbacks for diesel and kerosene, and the fourth for gasoline.
Last week, oil companies also implemented a decrease of P0.10/liter in gasoline, P0.20/liter, in diesel, and P0.45/liter in kerosene.
The recent movement resulted in a net increase of P9.50/liter and P6.65/liter, respectively, for gasoline and diesel, and a net decrease of P0.75/liter for kerosene, since the start of this year, the Department of Energy Oil Monitor showed.
“The week-on-week price of Dubai crude has decreased by about $1.80 per barrel,” the DOE said in a statement. “The international price of gasoline, diesel, and kerosene have also decreased by about $1.00, $1.20 and $1.10 per barrel, respectively.” | CGC
