Oil Firms to Implement Price Adjustment on Petroleum Products Starting This Week
Several oil firms in the Philippines announced that they would impose price roll back starting Tuesday (July 27, 2021).
On Monday (July 26, 2021), the oil companies would implement a price reduction in petroleum products after a few months of consecutive oil price hike in the country. The gasoline prices were last rolled back on May 18, 2021.
The prices of petroleum products have drastically increase for nine straight weeks and diesel by 14 weeks, which contribute to the burden of Filipino motorists and drivers. The price roll back would be a great relieve for the drivers.
Pilipinas Shell Petroleum Corp. announced that they would reduce the price of gasoline by 0.75 per liter, P0.60 per liter of diesel and kerosene. Cleanfuel and Petro Gazz will impose the price adjustments except for kerosene, which they do not carry.
Most gasoline stations would impose the price adjustment starting 6:00 am on Tuesday except for Cleanfuel, which implement the price changes at 8:01 am.
The Department of Energy (DOE) released the latest data available showing the year-to-date adjustments as of July 20. The data shows a total net increase of P13.60 per liter of gasoline, P10.90 per liter of diesel and P9.30 per liter of kerosene.
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