CITY OF SAN FERNANDO --- Oil firms across the country will again slash the prices of fuel on Tuesday, November 21.
On Tuesday, oil firms led by Shell, Seaoil and CleanFuel said the price per liter of diesel will go down by P0.50 to P0.80.
They added that gasoline will be slashed by P0.60 to P0.90 per liter and kerosene by P0.50 to 0.70 per liter.
The adjustments, once officially made, will mark the fourth consecutive week of the reduction of fuel prices.
Last Tuesday, pump prices declined by P3 per liter for diesel, P0.70 per liter for gasoline and P2.30 per liter for kerosene.
The Department of Energy Oil Industry Management Bureau said the decline in the prices of fuel is attributed to the reduction and slowing global demand in the United States and China, as well as an increase in weekly crude inventories.
DOE records show that the price adjustments have resulted in a year-to-date increase of ?13.05 per liter for gasoline, ?6.35 per liter for diesel, and ?1.69 per liter for kerosene as of November 14 this year.
Shell and Seaoil will implement the rollbacks by 6 am followed by CleanFuel at 4:01 pm.
