Fuel prices to rollback on Aug 6
INQUIRER FILE PHOTO
Motorists can expect slightly cheaper petroleum products starting Tuesday as oil firms will implement downward adjustments in the pump prices.
In separate advisories, Shell Pilipinas and Seaoil said the per-liter prices of diesel and kerosene would be reduced by 20 centavos and 45 centavos, respectively.
READ: New round of fuel price cuts seen
Tomorrow’s set price movements would mark the fourth consecutive week of rollback in diesel and kerosene prices.
Gasoline, meanwhile, would dip by 10 centavos.
Article continues after this advertisement“The downward pressure is attributed to the weakening demand from China and the plans of OPEC+ (Organization of the Petroleum Exporting Countries and allies led by Russia) to increase supplies in the world market,” Department of Energy-Oil Industry Management Bureau Director III Rodela Romero said last week.
“On the other hand, crude oil futures extended gains yesterday due to the escalating geopolitical risk from renewed conflict in the Middle East and the lower US crude inventories,” she added.
