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PH oil firms to halt 3-week price-hike streak

Reductions as high as P0.85/L starting tomorrow

PH oil firms to halt 3-week price-hike streak

MANILA: Fuel companies in the Philippines are ending the string of recent price hikes that occurred in the past three weeks.

KEY TAKEAWAYS

  • What are the price adjustments this week?

    This week, oil firms will cut down the price of gasoline products by P0.50 per liter, diesel by P0.70 per liter, and kerosene by P0.85 per liter.

  • When will the adjustments take effect?

    The adjustments will take effect on October 22, 2024.

    • Based on their respective advisories, Caltex, Cleanfuel, Jetti, Seaoil, and Unioil shall trim down the pricing of gasoline products by P0.50 per liter, and diesel by P0.70 per liter.

    In addition, some of the aforementioned companies shall also reduce the price of kerosene by P0.85 per liter.

    Photo from Ruben Manahan IV

    The price adjustment is set to take place tomorrow (October 22) — with other companies expected to follow suit.

    Last week, local players raised the price of gasoline by P2.65 per liter, diesel by P2.70 per liter and kerosene P2.60 per liter.

    Also read:

    Diesel, kerosene pump price hikes continue

    Motorists welcome Q4 2024 with fuel price hikes

    Oil companies to stop Sep. 2024 price-cut streak this week

     

    Ruben Manahan IV

    Ruben Manahan IV

    ruben.manahan[at]carmudi[dot]com[dot]ph

    Started his journalism stint as cub reporter for a local daily, Fort has been a news junkie ever since he started his career. He has covered for various sections of the newspaper ranging from politics to lifestyle, but his heart now belongs to motoring.

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