Third straight week of price rollback for diesel, kerosene
(Eagle News) – Various oil companies will rollback prices of diesel by P4.15 per liter, and kerosene by P4.45 per liter effective Tuesday, September 20.
However, there will be no changes in the price of gasoline.
The advisory in the rollback in prices of diesel and kerosene has already been posted in the social pages of oil companies.
This is the third straight week of oil price rollback for diesel and kerosene.
-Dip in world crude prices continue-
Crude prices tumbled last Thursday, Sept. 15, following a warning from the International Energy Agency that growth in demand could halt in the final months of this year.
Brent North Sea crude went down by 3.5 percent at $90.84 per barrel, while West Texas Intermediate was down by 3.8 percent to $85.10 per barrel last week.
On Monday, Sept. 19, oil prices dipped further as demand fears are fuelled by the growing fear of recession around the world.
West Texas Intermediate was down 1.3 percent at $83.99 per barrel, while the Brent North Sea crude also was 0.9 percent at $90.60 per barrel
(With a report from Agence France Presse)