MANILA, Philippines — After four consecutive weeks of price increases, oil retailers cut their prices effective Tuesday.
In separate advisories, Shell Pilipinas, Seaoil, Jetti, Caltex, PetroGazz and Cleanfuel said the prices per liter for diesel and kerosene would go down by 95 centavos and P1.15, respectively. Gasoline, on the other hand, would be cheaper by 60 centavos per liter.
Rodela Romero, director of the Department of Energy’s (DOE) Oil Industry Management Bureau, said the downward adjustments for this week’s oil prices could be attributed to cooler inflation print in China, considered a major crude importer.
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