Business, Finance & Technology
This week’s diesel and kerosene costs are lower
Starting Tuesday morning, oil companies will lower diesel and kerosene rates.
Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell have all issued separate recommendations lowering diesel prices by PHP0.30 per liter.
Kerosene prices will be reduced by PHP0.40 per liter by Caltex, Seaoil, and Shell.
There will be no change in fuel prices this week.
Oil companies are adopting price cuts for the second week in a row.
“As a consequence of these changes, the year-to-date adjustments for gasoline are PHP13.25 per liter, PHP10.40 per liter for diesel, and PHP8.70 per liter for kerosene,” according to the Department of Energy (DOE) oil monitor bulletin.
During the trading days from August 2 to 6, Dubai crude fell USD1.80 per barrel week on week.
MOPS gasoline fell by USD1.90 per barrel, while MOPS diesel fell by USD1.60 per barrel, according to the Means of Platts Singapore (MOPS).
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