After two straight weeks of big price increases, oil companies this week will be cutting the cost of gasoline and diesel while keeping unchanged the price of kerosene.
Gasoline prices will decrease by P0.40 per liter while diesel prices will be down by P0.30 per liter.
“This is to reflect movements in the international petroleum market,” said Seaoil Philippines, Inc., which will be among the first to impose the price cut at 12:01 a.m. on Tuesday, April 10.
The others will be adjusting fuel prices at 6:00 a.m. on Tuesday.
Last week, oil companies raised the prices of gasoline and diesel by P0.90 and P1.00 per liter, respectively. Kerosene prices also increased by P1.00 per liter during the first week of April. — Victor V. Saulon