• CHERYL G. CRUZ
The pump prices of petroleum products will decrease for the third straight week, effective tomorrow, March 18.
Oil companies announced over the weekend that diesel could go down by P0.30 to P0.40 per liter, gasoline by P0.10 to P0.20 per liter, and kerosene by P0.30 to P0.60/L.
The exact adjustments will be known today.
The week-on-week price of Dubai crude has decreased by around $5.70 per barrel, the Department of Energy said, adding that international prices of gasoline also decreased by about $4.70 per barrel, along with kerosene by about $3.90 per barrel, and diesel by around P2.80 per barrel.
“Crude oil futures fell amid reports that US would delay tariffs on all goods covered by the US-Mexico-Canada agreement imported from Mexico until April 2, rising US crude inventories and increase in OPEC output,” the DOE Oil Monitor showed.
Since the start of this year, gasoline and diesel logged total net increases of P2.15/liter and P3.05/liter, respectively, while kerosene has net decrease of P0.30/liter. | CGC
