Pump Prices Rollback To Be Imposed By Oil Companies on June 11
OIL PRICE ROLLBACK – Several oil companies announced a hefty rollback in pump prices after global crude prices drops due to slowing demand.
Bigtime rollback on fuel prices is set to be implemented by oil firms starting June 11, 2019 (Tuesday).
Oil companies cut the fuel prices for the third consecutive week as oil-producing countries continue to cut back on supply.
Petro Gazz, Shell, PTT Philippines, Seaoil, Total, and Unioil would cut the oil prices by P2.45 per liter of gasoline and P2.70 per liter of diesel. Shell would also reduce the price of kerosene by P2.60 per liter.
Seaoil would adjust the fuel prices at 12:01 am while Shell and Petro Gazz would implement the new rates at 6:00 am both on Tuesday morning.
Other oil firms are also expected to implement the same pump prices this week.
The drop of global crude prices was due to the surging supply and the slowing demand for petroleum products in the global economy.
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