(Eagle News) – Oil firms are set to implement another big price rollback for oil products, around P2 per liter, on Tuesday, August 9, as world crude prices continued to drop last week.
Gasoline prices will be slashed by P2.10 per liter, diesel by P2.20 per liter, and kerosene by P2.55 per liter.
Prices of petroleum products have been mostly decreasing since July.
The price rollback will take effect either at 12 midnight Tuesday, or 6 a.m. that day, according to separate advisories or various oil firms.
Oil prices fell again last week in the wake of the OPEC+ decision to slightly raise production, with the main US contract dropping back to levels not seen since before the war in Ukraine sent crude prices soaring.
Since July 5, diesel prices have been reduced by P12.75 per liter, and kerosene prices by P12 per liter. Gasoline prices have also cut by P13.20 per liter since July 12, except for a slight increase last August 2 of 75 centavos.
(Eagle News Service)
