Oil companies will drastically reduce the cost of diesel and kerosene.
Starting at 1:00 a.m. on Tuesday, oil companies will drastically reduce the price of their diesel and kerosene products; however, gasoline prices won’t change this week.
Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Unioil said separately that they would reduce diesel costs by PHP4.15 per liter.
Kerosene costs will also be decreased by PHP4.45 per liter by Caltex, Seaoil, and Shell.
Kerosene and fuel prices have been falling for three weeks in a row.
The fundamental cause of declining oil prices on the global market is concern about the recession and demand.
On the other hand, oil prices are under pressure due to the high dollar.
As of the time of writing, West Texas Intermediate was up 0.33 percent, and Brent crude was up 0.53 percent, trading at USD85.39 per barrel and USD91.83 per barrel, respectively.
Since the beginning of the year, the cost of gasoline has increased by PHP26.45 per liter, the cost of diesel by PHP42.10 per liter, and the cost of kerosene by PHP35.95 per liter.
Save/Share this story with QR CODE
Disclaimer: This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.
📩 Need to get in touch? Feel free to Email Us for comments, suggestions, reviews, or anything else.
We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).
World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.