Oil prices to go down on May 28

MANILA, Philippines – Oil companies will be reducing pump prices of petroleum products on Tuesday, May 28, to reflect the latest movements in the world market.

In separate advisories, Shell, Seaoil, Petro Gazz, and Caltex said gasoline prices will go down by P0.35 per liter, while diesel will be reduced by P0.45 per liter.

Companies carrying kerosene will implement a P0.60 per liter reduction. 

Seaoil will implement the adjustments at 12:01 am on Tuesday, while the other companies have set theirs at 6 am.

More companies are expected to follow the same rate reductions.

The new rates brought down year-to-date net increases to P7.20 per liter for gasoline, P5.75 per liter for diesel, and P4 per liter for kerosene.

Data from the Department of Energy showed gasoline prices in Metro Manila hover somewhere between P51.20 and P58.11.

Diesel prices range from P45.14 to P49.05, while kerosene prices are between P46.04 and P59.70 per liter. – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.