Oil companies announced another uniform decrease in the pump prices of petroleum products effective Sept. 27, the fourth rollback for this month.
Diesel cost will be down P1.25 per liter, gasoline by P1.65/L, and kerosene by P1.35/L, to reflect changes in the international oil market, the companies said.
Last week, a per liter decrease in diesel by P4.15, and P4.45 for kerosene was also implemented, although there was no price movement for gasoline.
Since the start of 2022, total adjustments stood at a net increase of P30.65 per liter for diesel, P25.45/liter for kerosene, and P16.50/liter for gasoline, the Department of Energy Oil Monitor showed.
Meanwhile, the DOE said it has completed the Natural Gas Development Plan (NGDP) that would help guide regulators, policymakers, and investors on the development of the Philippine Downstream Natural Gas Industry.
The NGDP contained, among others, information on gas demand outlook, ongoing projects, and the proposed regulatory process and recommendations to government agencies and local government units, particularly the simplified procedure in securing permits and clearances, documentary requirements, and technical standards that need to be complied with.
“We underscore the importance of developing our natural gas industry,” DOE director Rino Abad said in a statement. “As part of our strategy and ensuring energy security, we need to strengthen our strategies and policies…these documents will aid us in advancing the development of the downstream natural gas industry, including the role of Liquefied Natural Gas in our energy system.”/CGC
