These resulted to the year-to-date total adjustments to stand at a net increase of P14.85/liter for gasoline, P29.40/liter for diesel, and P24.10/liter for kerosene. Last September 27, oil firms implemented a per liter decrease in the price of gasoline by P1.65-P1.75, diesel by P1.25, and P1.35 for kerosene. This is the fifth consecutive week of decline in the prices of diesel and kerosene, and the second straight for gasoline. The continuing interest rate hikes being implemented in other countries softened the demand for oil, the DOE cited. MOPS gasoline has decreased by almost $6.40 per barrel as well as MOPS diesel and kerosene by nearly $5.40 and $5.00 per barrel, respectively. Oil firms adjust their pump prices every week to reflect movements in the world oil market.Īccording to the DOE, the week-on-week price of Dubai crude has decreased by around $1.80 per barrel. While it’s easy to blame the Russia-Ukraine war, given the enormous role. According to the Department of Energy’s Energy Information Administration (EIA), retail gasoline is up 26 from the start of the year but diesel is up 42.8. Cleanfuel, meanwhile, will reduce its pump prices at 12:01 a.m. The numbers are stark on how much diesel has risen relative to other benchmark oil prices in recent weeks. Petron, Shell, Seaoil, Total, Unioil, Phoenix, PTT said they will implement the price adjustment at 6 a.m. They announced Monday that gasoline prices will go down by P0.40 per liter, diesel by P0.45 per liter and kerosene P0.85 per liter. Oil firms are going to implement another price rollback this week.
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