Minimal oil price rollback tomorrow

MANILA, Philippines — Two local oil firms have announced minimal price reductions on pump products on Tuesday. 

In an advisory, Shell announced gasoline would be reduced by P0.10 per liter, diesel by P0.30 per liter and kerosene by P0.20 starting 6 a.m.

Petro Gazz, on the other hand, would reduce gasoline and diesel prices by P0.10 per liter and P0.30 per liter, respectively, also at 6 a.m. tomorrow.

Other oil companies have yet to announce their respective price adjustments as of this writing.

These price cuts come after seven consecutive weeks of gasoline price hikes and two successive increases for diesel and kerosene.

LPG price hike

Meanwhile, consumers will see another increase in the price of cooking gas starting today.

In an advisory, Petron Corp. said it would implement P1.25 per kilogram increase in liquefied petroleum gas (LPG) prices effective 12:01 a.m. 

It said AutoLPG prices would also go up by 70 centavos per liter today.

“The increase reflects the international contract price of LPG for the month of April,” Petron said.

This is the third straight month LPG prices have been raised.

Local retailers follow the pricing of Saudi Arabia’s state-owned oil company Saudi Aramco, which sets an international price benchmark at the beginning of each month.

Prior to the adjustment, prices of LPG tanks range between P608 and P785, based on data from the Department of Energy.