Petroleum Products Price Change To Take Effect On December 29, 2020

Petroleum Products Price Change To Take Effect On December 29, 2020

PETROLEUM PRODUCTS – Several oil firms have announced that will implement price changes on petroleum products on December 29, 2020.

According to GMA News, after seven weeks of price hikes for diesel and kerosene, oil industries have announced that there will be a price rollback o the said products, as for the gasoline, the price will remain unchanged.

Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. said that there will be a decrease of prices of diesel by P0.05 per liter, and prices of kerosene by P0.25 per liter.

Petro Gazz said that it will implement the same changes, with the exception of kerosene, which it does not carry.

The said changes is said to take effect at about 6 AM on Tuesday, December 29, 2020. Other oil firms are yet to make similar announcements.

Based on the report, the recent data from the Department of Energy (DOE) states that year-to-date adjustments stand at a net decrease of P3.22 per liter for gasoline, P7.36 per liter for diesel, and P10.59 per liter for kerosene.

Last week, prices for all products have increased. The prices of gasoline by P0.75 per liter, diesel by P0.80 per liter, and kerosene by P0.80 per liter.

What do you think of this report? How will you react to this? Let us know more about it in the comments below.

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