MANILA – After eight weeks of consecutive oil price hikes, pump prices will go down starting Tuesday morning.
In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT, Seaoil, Shell, and Total will slash gasoline prices by 75 centavos per liter and diesel products by 60 centavos per liter.
Caltex, Seaoil, and Shell will also reduce kerosene prices by 60 centavos per liter.
According to the Department of Energy (DOE), Dubai crude prices and Means of Platts Singapore (MOPS) fuel prices declined during July 12 to 16 trading.
Dubai crude declined by USD0.10 per barrel from the previous trading week, while MOPS gasoline and MOPS diesel had a cut of USD0.65 per barrel and USD0.10 per barrel.
To date, the two-month price hikes for gasoline products reached PHP13.60 per liter, PHP10.90 per liter for diesel, and PHP9.30 per liter for kerosene. (PNA)
