Gas, diesel, kerosene prices going down today

MANILA, Philippines — Pump prices are going down today after two consecutive weeks of price increases.

Oil companies, in separate advisories yesterday, announced price rollbacks on diesel, gasoline and kerosene.

Oil firms said gasoline prices would decrease by P2.60 per liter, diesel by P1.55 per liter and kerosene by P1.60 per liter.

This week’s price reductions reflect movements in the international oil market.

The price adjustments will take effect at 6 a.m. today for most oil firms, except for Caltex and Cleanfuel which started implementing the adjustments at 12:01 a.m.

Prior to today’s rollback, oil firms implemented back-to-back increases in the past two weeks, resulting in a cumulative hike of P8.70 per liter for diesel, P2.10 per liter for gasoline and P8.90 for kerosene.

As of last week, year-to-date net increase stood at P19.55 per liter for gasoline, P37.80 per liter for diesel and P33.20 per liter for kerosene, based on data from the Department of Energy.