Diesel, kerosene price rollback

Oil firms cut diesel and kerosene prices as demand for fuel tapered off amid the tail-end of winter in the United States. AP FILE PHOTO

MANILA, Philippines—Oil firms cut diesel and kerosene prices on Tuesday as demand for fuel tapered off amid the tail-end of winter in the United States.

In separate advisories, Petron, Shell, Chevron and Seaoil announced a rollback of 30 centavos per liter on diesel and on kerosene effective 12:01 a.m. on Tuesday, March 4.

PTT Philippines implemented the same price cut but for diesel only, also from 12:01 a.m. Tuesday, “to reflect movements in the international petroleum market,” PTT said.

Phoenix Petroleum implemented the same price cut for diesel starting 6 a.m. Tuesday.

So far, there has been a net increase of 20 centavos per liter for gasoline and a net decrease of 45 centavos per liter for diesel.

Robust demand for heating fuel and diesel due to very low temperatures in the United States seems to be winding down as winter comes to an end.—Riza T. Olchondra

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