Fuel prices in Cebu City gas stations as of Feb. 13

Fuel pumps. INQUIRER FILE PHOTO

CEBU CITY, Philippines — Motorists this week can expect a slight relief after fuel prices decreased with the implementation of a rollback on February 13, Tuesday.

Local oil firms announced in separate advisories that the price of gasoline will decline by P0.60 per liter, diesel by P0.10 per liter, and kerosene by P0.40 per liter.

The reduction was the first after five weeks of successive oil price hikes after the Department of Energy Oil Industry Management Bureau observed a decrease in the global demand.

Rodela Romero, director of the said bureau, attributed the rollback to the increase in US oil production and “slowing oil demand growth.”

She clarified, however, that the continued production cut by major oil exporters may still impact fuel prices. Pump prices of fuel depend on global demand and production outflow although there are also other factors that influence the prices of fuel.

In the previous week, the prices of gasoline and diesel were up by 75 centavos per liter and P1.50 per liter, respectively; while kerosene was up by 80 centavos per liter.

The following are the fuel prices in some gas stations in Cebu City as of February 13, 2024:

Shell Gas Station Jones Avenue corner Uytengsu St.
Fuel Save Gasoline – P64.40
V-Power Gasoline – P72.30
Fuel Save Diesel – P60.50
V-Power Diesel – P68.40

Shell Mobility Midtown Mango
Fuel Save Diesel – P60.50
V-Power Diesel – P68.40
Fuel Save Gasoline – P64.40
V-Power Gasoline – P70.30
V-Power Racing – P72.89

Petron Gas Station (V. Rama Avenue, Cebu City)
Diesel MAX – P58.10
XTRA Advance – P61.55
XCS – P62.45
Gaas – P74.92

Shell Gas Station (Salinas Drive, Cebu City)
Fuel Save Gasoline – P70.05
V-Power Gasoline – P76.18
Fuel Save Diesel – P66.38
V-Power Diesel – P73.85
V-Power Racing – 78.64

/with reports from Inquirer.net

READ:

Price of gasoline down 60¢, diesel by 10¢ per liter

Fuel firms slash prices amid global demand dip