Oil firms roll back diesel, kerosene prices

Oil firms roll back diesel, kerosene prices

MANILA – Oil firms are expected to roll back prices of diesel and kerosene starting Tuesday morning.

In separate advisories, oil firms Cleanfuel, Petro Gazz, Shell, and Seaoil will slash prices of diesel by PHP0.25 per liter.

Kerosene prices will also decrease by PHP0.15 per liter.

Oil players announced no movement in prices of gasoline this week.

According to the Department of Energy’s (DOE) oil monitor bulletin, total year-to-date adjustments of fuel prices stood at a net decrease of PHP4.67 per liter for gasoline, PHP10.01 per liter for diesel, and PHP13.44 per liter for kerosene as of last week.

“Asia’s oil demand recovery has been bumpy and uneven across products. However, refinery runs are expected to trend higher in Q4 (fourth quarter) on month-on-month demand increases. Recovery is also seen to continue, with prices trending gradually upward through 2021,” the DOE bulletin said. (PNA)

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