Local fuel retailers will reduce the cost of all their fuel products next week following an easing of tensions in the Middle East.
Rodela Romero, Department of Energy’s Oil Industry Management Bureau director, said in a message on Friday price reductions for next week will range from P1 to P1.40 per liter for gasoline, P1.60 to P2.10 for diesel and P2 to P2.20 for kerosene.
Romero added, however, such price ranges may still change as they were only based on the Mean of Platts Singapore benchmark price indicator for four-day crude trading.
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