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Fuel retailers are set to implement a major pump price rollback this week, but this will not be enough to offset increases made so far this year.In separate advisories, Chevron Philippines Inc. and Pilipinas Shell Corp. said they will reduce prices per liter of gasoline by P1.55, diesel by P1.30, and kerosene by P1.40.The adjustments will take effect at 6 a.m. on Tuesday, September 10.Other firms have yet to make similar announcements for the week.
The latest announcements are in line with projections made by the Department of Energy-Oil Industry Management Bureau , citing the sluggish demand from China and the United States, and the reported boost in output.Firms last week hiked prices per liter of gasoline by P0.50, diesel by P0.30, and kerosene by P0.70.This brought year-to-date adjustments to a net increase of P7.40 per liter for gasoline and P4.35 per liter for diesel, and a net decrease of P3.
Fuel Price Adjustment Oil Price Adjustment
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