MANILA, PHILIPPINES — Oil companies announced on Monday that they will reduce fuel prices starting May 3, marking the fourth price cut in 2022.

On Tuesday, May 3, the following price drops will take effect:

Petro Gazz

•  Diesel – P1.15 per liter 
•  Gasoline – P0.65 per liter 

Pilipinas Shell

• Gasoline – P0.65 per liter
• Kerosene – P1.15 per liter 
• Diesel – P1.15 per liter 

PTT Philippines

• Gasoline – P0.65 per liter 
• Diesel – P1.15 per liter 

Caltex

• Gasoline – P0.65 per liter 
•  Diesel – P1.15 per liter 
•  Kerosene – P1.15 per liter 

Cleanfuel

• Gasoline – P0.65 per liter 
• Diesel – P1.15 per liter 

Seaoil

• Gasoline – P0.65 per liter 
• Diesel – P1.15 per liter 
• Kerosene – P1.15 per liter 

Liquefied petroleum gas (LPG) providers also announced a lower price adjustment over the weekend, which was effective on May 1. 

Petron and Phoenix LPG reduced LPG rates per kilogram by P5.75, while Solane announced a 5.73/liter drop in price.

Domestic oil companies have announced three price reductions so far, but they have not been enough to counteract the sustained increases in fuel prices since the beginning of 2022.

According to local oil firms’ advisories, the price adjustments for oil products have been P18.45 per liter for gasoline, P31.45 per liter for diesel, and P22.05 per liter for kerosene from the first week of 2022. – WhatALife!

Source: (abs-cbn.com)

---

Also read: DOE: Another big-time fuel price hike seen next week