Diesel, kerosene prices cut this week

Consumers will gain breathing space in their pockets this week, as the price of diesel products will be on rollback by R3.00 per liter, while kerosene prices will be reduced by R3.40 per liter, according to the oil companies.

For gasoline, there is no cost movement this week, as industry players noted that the previously calculated marginal rollback of R0.20 to R0.40 per liter had been squirreled away by the decline in Philippine peso’s value versus the US dollar, as well as market premium and other charges.

As of press time, the oil companies that already advised on their price reductions had been Pilipinas Shell Petroleum Corporation, Petrogazz, Cleanfuel, Seaoil and Chevron effective today (July 5).