The various retailers roll back across the board the price of fuel at the pumps beginning midnight Tuesday, 30 April, and only a week following an increase in gasoline prices and a reduction in diesel and kerosene.
This time, Seaoil and Caltex cut the price per liter by P0.25 for gasoline, P0.45 for diesel and P0.90 for kerosene.
Clean Fuel and Jetti similarly cut the price of gasoline by P0.25 per liter and diesel by P0.45 per literl.
Today’s fuel price decreases were mainly caused by the effects of a slowed down US economy as any acceleration in American inflation will likely force the US Federal Reserve to not cut interest rates before September.
The price per liter of gasoline (RON91) in Manila is P68.30, diesel at only P60.65 and kerosene at P75.18.
Department of Energy data show year-to-date adjustments as a net increase of P10.25 per liter for gasoline, P6.05 per liter for diesel and P1.15 per liter for kerosene.
