cdn mobile

Gasoline prices down by 90¢ per liter, diesel up 60¢

By: Jordeene B. Lagare - | June 03,2024 - 11:44 AM

Gasoline prices down by 90¢ per liter, diesel up 60¢


Fuel companies announced significant price adjustments of up to 90 centavos per liter in local pump prices starting Tuesday, June 4.

According to industry sources, the price of gasoline will decrease by 90 centavos per liter.

But diesel prices will rise by 60 centavos per liter and kerosene by 80 centavos per liter.


Oil firms blame strong dollar for price increase

Fuel prices in Cebu City increase by up to P1.55 as of April 9

Most firms will apply their pump price hike on Tuesday morning, with Shell Pilipinas and Seaoil leading the price adjustments at 6 a.m. Other players are expected to make a similar announcement.

Department of Energy’s Oil Industry Management Bureau director Rodela Romero said on Friday that next week’s pump price adjustment was hinged on expectations that the Organization of the Petroleum Exporting Countries and its allies might extend voluntary output reductions by the second quarter of this year.

Romero also cited the “seasonal demand uptick” due to [the] forthcoming summer season as another reason for the fuel forecast.

“[There is also] an announcement of US (the United States) on the release of millions of barrels of gasoline product from government reserves to lower prices at the pump,” she added.

This week’s price announcement came a week after firms applied a 40 centavo increase per liter in both diesel and gasoline, and 30 centavos in kerosene.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Read Next

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

TAGS: fuel price, fuel price hike, fuel price rollback, oil companies

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.