Metro Manila (CNN Philippines, April 4) — Fuel companies announced a rollback of oil prices set for Tuesday, marking the second time this year that rates will go down.
Caltex, Cleanfuel, Flying V, Petro Gazz, Petron, PTT Philippines, Seaoil and Total on Monday declared per-liter price cuts of diesel by ₱1.85 and gasoline by ₱2.30 effective 6 a.m. April 5.
Caltex, Flying V, Petron, and Seaoil said they would cut the price of kerosene by ₱1.65/l.
The upcoming rollback follows the big-time hike in fuel rates last week. Among the factors that led to the decrease, as cited by the Department of Energy, was the United States’ move to release oil from its reserves.
In DOE’s latest oil monitor as of March 29, by-the-liter prices of gasoline, diesel, and kerosene have seen net increases of ₱18.30/l, ₱27.85/l, and ₱25.75/l, respectively, since the beginnning of the year.
