P2 rollback in gas, 40¢ hike in diesel

MANILA, Philippines — A mixed movement in pump prices is being implemented by oil companies today, which includes a hefty rollback in gasoline prices.

In separate advisories yesterday, oil firms said prices would be reduced by P2 per liter for gasoline and P0.50 per liter for kerosene.

This is the second consecutive week of rollback in the prices of both petroleum products.

Meanwhile, diesel prices are up by P0.40 per liter following a slight reduction last week.

The price adjustments will take effect at 6 a.m. today for most companies, except for Caltex and Cleanfuel which implemented the price movements at 12:01 a.m.

Last week, the 11 successive weeks of price hikes for diesel and kerosene and 10 straight weeks for gasoline came to an end, after oil companies reduced prices by P0.20 per liter for both gasoline and diesel and P0.50 per liter for kerosene.

These adjustments resulted in a year-to-date net increase of P17.30 per liter for gasoline, P13.40 per liter for diesel and P9.44 per liter for kerosene, data from the Department of Energy (DOE) showed.

DOE monitoring from Sept. 26-28 showed that prevailing retail prices of diesel and diesel plus products in the National Capital Region ranged from P62.60 to P73.75 per liter and from P69.05 to P86.92 per liter, respectively.

Gasoline prices ranged from P62.30 to P79.35 per liter, depending on the RON or research octane number of the fuel.

As for kerosene, prices monitored during the period ranged from P80.25 to P92.59 per liter.