Oil firms cut fuel prices by up to P1.50 per liter
MANILA -Another round of fuel price rollback will greet motorists on the second day of the month after local oil firms announced they would cut the pump prices of gasoline, diesel and kerosene by as much as P1.50 per liter.
The price of cooking gas, however, will increase by up to 85 centavos per kilogram.
In separate advisories, oil firms said the prices of gasoline would be slashed by P1.50 per liter, diesel by P1.30 per liter and kerosene by P1.40 per liter effective tomorrow, May 2.
CleanFuel and Caltex will implement the price adjustments at 12:01 a.m., followed by Seaoil, Petro Gazz, Jetti Petroleum and Phoenix Petroleum at 6 a.m. on Tuesday.
This marks the second week of rollbacks after last week’s prices were cut by 20 centavos per liter for kerosene, 70 centavos for diesel and P1.40 per liter for gasoline.
According to the Department of Energy, this resulted in a year-to-date net decrease of P3.05 per liter for diesel and P3.55 per liter for kerosene. Gasoline, meanwhile, had a P7.55-per-liter net increase.
The good news was weighed down by a jump in the prices of liquefied petroleum gas (LPG) effective Monday, May 1, by up to 85 centavos per kilogram. This brings up the price of an 11-kg LPG cylinder by P9.35.
According to Petron Corp. and Phoenix, their AutoLPG prices likewise increased by 48 centavos per liter based on the international contract price of LPG this month.
Solane-branded LPG, on the other hand, rose by 82 centavos per kilogram.