• CHERYL G. CRUZ
A minimal rollback in the per liter price of petroleum products will take effect today, April 30, with gasoline down by P0.25, diesel by P0.45, and kerosene at P0.90.
This is the first time that the cost of gasoline will decrease, following six straight weeks of increases.
The rollback reflects movements in the international oil market, industry players said, as the Department of Energy Oil Monitor showed that “week-on-week price of Dubai crude decreased by around $1.50 per barrel.”
The international price of gasoline, diesel, and kerosene also decreased by about $0.20, $4.00, and $3.80 per barrel, respectively, the DOE said, adding this was mainly due to “easing Iran-Israel conflict, US crude build, and expectation of elevated rates into the third quarter.”
Gasoline, diesel, and kerosene price adjustments since the start of this year stood at a per liter net increase of P10.25, P6.05, and P1.15, respectively, the DOE added. | CGC
