Tuesday Oil Price Update

Local pump prices decrease this morning. Gasoline drops by PHP0.75 per liter, while diesel falls by PHP0.85 per liter. Kerosene prices are reduced by PHP0.80 per liter.

Caltex, Cleanfuel, Petro Gazz, PTT, Seaoil, and Shell implement these changes. Last week, oil companies made mixed adjustments to their prices.

Year-to-date price increases are PHP10.35 per liter for diesel, PHP7.75 per liter for gasoline, and PHP0.50 per liter for kerosene. The recent fall in global oil prices results from reduced demand concerns from China and decreased tensions involving Iran and Israel.

Despite a price freeze on household kerosene and LPG in areas affected by super typhoon Carina and the southwest monsoon, the rollback on kerosene prices still occurs. (ASC)