Gasoline prices will go down by P1.40 per liter, diesel by P0.70 per liter, and kerosene by P0.20 per liter.
Seaoil, Total, Caltex, Phoenix, PT&T, Caltex, Shell, and Petron will implement the new pump prices at 6a.m. of April 25. Cleanfuel, meanwhile, will slash its prices at 12:01 a.m.
Last April 18, oil companies implemented a per liter decrease of P0.40 on the price of diesel. On the contrary the price of gasoline and kerosene have increased by P0.30 and P0.10, respectively. These resulted to a year-to-date net decrease for diesel at P2.35/liter and kerosene at P3.35/liter. Gasoline on the other hand, has a net increase of P8.95/liter.
Prior to last week’s price adjustment, pump prices increased for two consecutive weeks on the back of cooling US inflation data, a weaker dollar and stronger-than-expected China trade data.
Image credits: Roy Domingo