- CHERYL G. CRUZ
Oil companies will implement a uniform roll back in the pump prices of petroleum products on Tuesday, the third decrease for this year.
Caltex said it will slash gasoline prices by P1 per liter, P0.35/L for diesel, and P3/L of kerosene effective 12:01 a.m. on April 12.
PTT Philippines, Unioil, Jetti Petroleum, and other companies will implement similar price adjustments at 6 a.m.
Last week, oil companies also rolled back diesel prices at P1.85 per liter, and gasoline at P2.30 per liter.
Diesel is widely used in transport services.
Negros Occidental had the lowest diesel price at P41.63 in Western Visayas in December 2019, as per the Department of Energy Price Watch: Visayas Prevailing Retail Pump Prices.
There was a steady increase in diesel prices starting on the last week of December 2021, with the sharpest rise observed in the third week of March 2022, an overview on the trend of oil prices and socio-economic condition in Western Visayas showed, adding that there has been a 30 percent increase in diesel prices in the region since December 2019.
Gasoline, commonly known as unleaded petroleum, is also widely used in powering factories and transport services.
“There was a steady increase in gasoline prices starting on the first week of December 2021, with the sharpest increase observed in the third week of March 2022,” the comparative data from the DOE said, adding that there has been a 19.6 percent hike in diesel prices in Western Visayas.
The DOE said that, as of April 5, oil companies implemented a price decrease in domestic oil products. Gasoline dropped by P2.30 to P2.50 per liter, diesel by P1.85 to P2 per liter, and kerosene by P1.65 per liter.
These resulted in the year-to-date adjustments to stand at a net increase of P16/liter for gasoline, P26/liter for diesel, and P24.10/liter for kerosene, the agency’s oil monitor showed./CGC