Diesel, Kerosene to Rollback this Week

Oil firms announced a rollback on the prices of diesel and kerosene for this week, starting today, marking the second week of rollbacks of oil prices in the country.

Oil firms Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell announced in separate advisories that their diesel price will decrease by PHP0.30 per liter.

Moreover, oil firms Caltex, Seaoil, and Shell also announced a PHP0.40 per liter reduction of their kerosene prices.

Meanwhile, gasoline price will remain the same for this week.

According to the oil monitor bulletin of the Department of Energy (DOE), crude prices declined week-on-week by USD1.80 per barrel on the August 2 to 6 trading period.

Despite the consecutive weeks of rollbacks on the price of oil in the country, year-to-date adjustments in oil prices shows that diesel prices increased by PHP10.40 per liter, gasoline prices increased by PHP13.25 per liter, and kerosene prices increased by PHP8.70 per liter, according to the same oil monitor bulletin by DOE. (GFB)