Gas, diesel, kerosene prices to be reduced on Sept 13

·Senior Editor
·1 min read
Photo illustration of a person pumping gasoline to show the roll back of prices of gas, diesel and kerosene in the Philippines.
A person pumps gasoline. Oil companies will roll back prices of gas, diesel and kerosene on September 13, 2022.

Shell, Petrogazz, Caltex and Seaoil are expected to roll back prices for gas, diesel and kerosene this week.

In separate advisories on Monday (September 12), the oil companies said they would reduce gasoline, diesel, and kerosene prices by P0.45 to P1.70 per liter.

The following prices will apply from Tuesday morning.

Shell (from 6am)

  • Gasoline: P0.45 per liter

  • Diesel: P1.45 per liter

  • Kerosene: P1.70 per liter

Caltex (from 12:01am)

  • Platinum: P0.45 per liter

  • Silver: P0.45 per liter

  • Diesel: P1.45 per liter

  • Kerosene: P1.70 per liter

Petrogazz (from 6 am)

  • Gasoline: P0.45 per liter

  • Diesel: P1.45 per liter

  • Cleanfuel (12:01 a.m.)

  • Gasoline: P0.45 per liter

  • Diesel: P1.45 per liter

Seaoil

  • Gasoline: P0.45 per liter

  • Diesel: P1.45 per liter

  • Kerosene: P1.70 per liter

Rino Abad, Director of Department of Energy-Oil Industry Management Bureau (DOE-OIMB) told GMA News Online that the expected fuel price reduction was due to the following factors:

  • Continuing threat of lower demand due to planned another round of interest hike by US and Europe, and

  • Very minimal impact of the production cut by Organization of the Petroleum Exporting Countries for October at 100,000 barrels per day to stir price increase.

Last Tuesday, gasoline and diesel prices were also cut by as much as P2.60 per liter.

On Wednesday, oil prices fell to seven-month lows as fears of a global economic recession and ongoing lockdowns in China, the world’s largest oil-consuming country, weighed on market sentiment, increasing demand concerns.

Watch more videos on Yahoo: