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Diesel, kerosene prices tumble anew in mid-November

Diesel, kerosene prices tumble anew in mid-November

ABS-CBN News

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Updated Nov 13, 2023 09:41 AM PHT

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Motorists load up on gas in a filling station in Marikina City. Mark Demayo, ABS-CBN News/File
Motorists load up on gas in a filling station in Marikina City. Mark Demayo, ABS-CBN News/File

MANILA -- Oil prices are tumbling anew on the second week of November.

Companies announced the following price drops effective November 14, Tuesday:

PILIPINAS SHELL, SEAOIL (effective 6 a.m.):
Gasoline - P0.70/L (decrease)
Kerosene - P2.30/L (decrease)
Diesel - P3.00/L (decrease)

CLEANFUEL (effective 12:01 a.m.):
Gasoline - P0.70/L (decrease)
Diesel - P3.00/L (decrease)

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PETROGAZZ (effective 6 a.m.):
Gasoline - P0.70/L (decrease)
Diesel - P3.00/L (decrease)

Department of Energy (DOE) Oil Industry Management Bureau Director Rino Abad said prices were falling because constraints on global supply seemed to be easing.

"As of November 3, malaki na ho ang binago doon sa ine-expect eating undersupply. Bagkus baliktad na, by December magkakaroon raw ng konting oversupply," he told TeleRadyo Serbisyo.

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