• CHERYL G. CRUZ
A minimal rollback in the pump prices of petroleum products will take effect, starting tomorrow, Aug. 4, after five straight weeks of consecutive increases.
Oil companies announced over the weekend that prices of diesel could decrease by P0.50 to P1 per liter, gasoline by P0.50 to P0.90/L, and kerosene by P1.40 to P1.80/L.
The exact adjustments will be known today, Aug. 3.
The decrease was due to “cautious optimism over the US-Iran truce”, although the situation in the Middle East remains volatile.
Effective July 28, diesel prices increased by P7.30/L, gasoline by P6.80/L, and kerosene by P4.20/L.
The average LPG prices, meanwhile, increased by P3 per kilogram, effective Aug. 1, Petron said in an advisory.
Solane also implemented a similar increase, inclusive of the value-added tax, effective Aug. 2. | CGC
