An oil firm announced that a rollback in gasoline will be implemented on Tuesday, while diesel and kerosene will increase.
In an advisory on Monday, Shell Pilipinas Corp. said it will lower prices per liter of gasoline by P0.90 and hike those of diesel by P0.60 and kerosene by P0.80.
Shell said the adjustments will take effect at 6 a.m. on Tuesday, June 4, for all the firms except for Cleanfuel, which will implement the changes at 12:01 a.m. the same day.
Similar statements for the week have not yet been made by other oil firms.
The advice was made in accordance with the forecasts provided by the DOE-Oil Industry Management Bureau (DOE-OIMB), which note that OPEC+ is expected to maintain its production reduction and that the next summer season will cause a seasonal increase in demand.
Last week, oil firms raised the price per liter of kerosene by P0.30 and diesel and gasoline by P0.40 each.
As of May 28, 2024, a net rise of P7.55 per liter for gasoline, P4.85 per liter for diesel, and P1.05 per liter for kerosene had been added to the year-to-date adjustments.
