Business, Finance & Technology
Business Technology, Finance Technology & Information Technology
Tuesday will see the start of this year’s first price rollback for oil corporations.
On Tuesday, oil companies will undertake the first price rollback of the year.
Cleanfuel, Jetti, Petro Gazz, PTT Philippines, Seaoil, and Shell each said separately that they will lower the price of diesel by PHP2.80 per liter and the price of gasoline by PHP0.75 per liter.
Kerosene costs will be decreased by PHP2.10 per liter by Seaoil and Shell.
The same price adjustments should be implemented by other oil firms.
The most recent pullback will end the streak of three consecutive weeks of rising oil prices.
Brent crude was at USD80.36 per barrel as of this writing, while West Texas Intermediate was selling for USD75.55 per barrel.
Dubai crude was selling for USD75.40 per barrel the previous week.
According to monitoring statistics from the Energy Department, the average price of gasoline in Metro Manila ranges from PHP58 to PHP81.67 per liter; for diesel, it is PHP60 to PHP81.25; and for kerosene, it is PHP74.80 to PHP83.74.
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