The cost of petroleum products are set to drop a second time this week beginning past midnight Tuesday.
Seaoil and Caltex have cut the per liter price of its gasoline by P0.70 and by P3 for diesel and P2.30 for kerosene.
PTT, Jetti and Phoenix Petroleum also reduced the per liter price of their products by P0.70 for gasoline and P3 of diesel.
This week’s price rollback is the third consecutive for diesel and kerosene but only the second time for gasoline attributed to falling oil demand in the United States and China which are two of the world’s biggest petroleum users.
The P3 per liter rollback in diesel equals the 7 February reduction which is also the biggest price cut of the product thus far this year.
The price per liter of gasoline (RON95) costs P72.60, diesel for P64.17 and kerosene for P75.21 based on data from the Department of Energy.
DOE data also show adjustments as of 7 November 7 as a net increase of P13.75 per liter for gasoline, P9.35 per liter for diesel and P3.99 per liter for kerosene.
