• CHERYL G. CRUZ
The pump prices of petroleum products will decrease this week, with diesel and gasoline set to go down by P1.10 to P1.30 per liter, and kerosene by P1.40 to P1.60/L.
The exact adjustments will be known today, Sept. 9, as oil companies regularly implement price movements every Tuesday.
Oil prices fell as growing efforts to secure a ceasefire in the Middle East, which holds a significant portion of the world’s oil reserves, eased supply concerns, as per the Anadolu/Philippine News Agency report.
The rollback is the first for this month, following the increase of P0.50/liter for gasoline, P0.30/liter for diesel, and P0.70/liter for kerosene, effective Sept. 3.
The Department of Energy said that total adjustments for gasoline and diesel stood at a net increase of P7.40/liter and P4.35/liter, respectively, while kerosene logged a net decrease of P3.30/liter since the start of this year. | CGC
