MANILA, Philippines – Prices of gasoline, diesel, and kerosene are dropping for a second straight week starting 12:01 a.m. Monday, Sept. 23, oil companies announced Saturday.
Citing international price movements and the strong peso, Petron, Shell, and Seaoil announced the adjustments for gasoline (down by P0.70 per liter), diesel (down P0.90 per liter), and kerosene (down P1 per liter) on Saturday. PTT Philippines announced similar price cuts for its gasoline and diesel products.
Oil firms tend to track each other’s prices.
Including Monday’s price adjustments, the year-to-date net increase in gasoline will be P1.24 per liter while that of diesel will be P2.38 per liter.
Last week, the oil firms pushed back pump prices for gasoline by P1.60 per liter. Diesel and kerosene prices softened by more modest rates of P0.80 per liter and P0.85 per liter, respectively.