MANILA, Philippines – For the third straight week, pump prices for diesel and kerosene are going to be rolled back.
Energy Secretary Sharon Garin announced a minimum price reduction of P12.94 per liter for diesel, and P15.71 per liter for kerosene, for the week of April 28 to May 4.
Meanwhile, gasoline pump prices will increase by P0.53 per liter.
The P12.94 per liter rollback for diesel follows two bigger price reductions: P24.94 per liter for April 21 to 27, and P20.89 per liter for April 14 to 20, or a total price reduction of P58.77 for the past three weeks.
The price cut for diesel would bring down its price range in the National Capital Region (NCR) to P75.93 to P101.96 per liter for the week of April 28 to May 4 from P80.06 to P111.76 per liter for the week of April 21 to 27.
Diesel is the most important fuel in the Philippines since most public utility jeepneys and delivery trucks are run using this fuel.
Energy Secretary Sharon Garin said in a press conference on April 20 that the Philippines’ diesel supply was still good for 52 days.
For gasoline, the P0.53 per liter increase follows a P3.41 per liter cut from April 21 to 27, and P4.43 per liter reduction from April 14 to 20. This would mean a price range in the NCR of P73.53 to P103.42 for the week of April 28 to May 4 from P72.59 to P98.69 (April 21 to 27).
For kerosene, the P15.71 per liter price cut comes after P2 per liter reduction from April 21 to 27, and P8.50 per liter from April 14 to 20.
Garin said on April 21 the price rollbacks announced by government are the prescribed minimum price reductions. Oil companies can have price cuts higher than the minimum but not lower.
These price cuts are big relief to consumers who have had to face higher transport and food costs following the US-Israel war on Iran on February 28.
Before the war, the common price of diesel in the NCR was only P55 per liter; for the cheapest gasoline (RON 91), it was P54.70 per liter; for kerosene, P83.47 per liter.
