Fuel companies to cut pump prices

MANILA: Fuel companies announced that they will cut down the price of fuel this week. 

Brands such as Cleanfuel, Unioil, and Phoenix revealed that they will reduce the price of diesel by P0.20 per liter and the price of gasoline by P0.80 per liter. 

Other oil firms like Shell, Petron, and Caltex are expected to follow suit. 

The adjustments are expected to take effect today.

The Department of Energy has released data, which details the prevailing retail prices of petroleum products as of today. Below is the said table: 

Prevailing Retail Prices of Petroleum Products NCR
Product	Overall Range		Common Price
Gasoline (RON97/100	P55.45	P76.40	P73.23
Gasoline (RON95)	P53.95	P78.07	P70.90
Gasoline (RON91)	P52.95	P68.46	P63.55
Diesel	P51.70	P65.70	P60.45
Diesel Plus	P58.95	P76.05	P72.30
Kerosene	P71.74	P85.50	P75.27

Last week’s movement 

Last week, local oil players increased the price of fuel products. Below are the hikes implemented by fuel companies last week: 

• Up P1.65 per liter (gasoline)
• Up P2.70 per liter (diesel)
• Up P2.50 per liter (kerosene) 

Also read:

Fuel pump prices continue to rise on X-Mas 2024

Fuel price increases to continue this week

Fuel price hikes not lower than P1/L to be implemented this week