MANILA — Motorists can expect a drop in fuel prices this week as several oil firms announced rollbacks following last week’s price hike.
Starting Tuesday, August 27, Chevron Philippines (Caltex), Seaoil, and Shell will lower the price of gasoline by ₱1.15 per liter, diesel by ₱1.90 per liter, and kerosene by ₱1.80 per liter. Cleanfuel will also implement similar cuts, excluding kerosene, at 12:01 a.m. on the same day.
The Department of Energy-Oil Industry Management Bureau attributed the rollback to ceasefire talks in Gaza and production recovery from Libya’s Sharara Oilfield.
Last week, prices were hiked by ₱1.00 for gasoline, ₱1.20 for diesel, and ₱1.00 for kerosene. Despite these adjustments, year-to-date changes show a net increase of ₱8.05 for gasoline, ₱5.95 for diesel, and a net decrease of ₱2.15 for kerosene.
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