OIL companies lowered fuel prices on Tuesday, July 30, 2024.
The prices of gasoline was reduced by 75 centavos per liter, diesel by 85 centavos per liter and kerosene by 80 centavos per liter.
The price rollback reflected the drop in oil prices in the world market due to weak demand and the ongoing negotiations for a ceasefire in the Gaza Strip, the Department of Energy's Oil Industry Management Bureau said.
Last week, there were reductions in the price of diesel and kerosene but an increase in the price of gasoline.
Since January, the price of gasoline has risen by P9.60 and diesel by P6.90.
Kerosene has dropped by 50 centavos.