Oil Firms to Implement Pump Price Adjustment This Week
Oil companies are set to impose a pump price rollback this week after series of increases over the past few weeks.
Nowadays, the prices of petroleum products play a very important role to the country’s economy. Pump price adjustment usually causes significant impact on prices of products and services in the country.
Pump price hike would contribute to the daily burden of Filipino people especially to those who were using public vehicles for a living and to individuals using private vehicles to reach their point of destination.
Oil price rollback can somehow ease the burden of Filipino drivers.
Several gasoline stations in the country announced a rollback on prices of petroleum products including gasoline, diesel and kerosene. However, the price cut will be at most only 12.56% of the net increases since 2022 started.
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc announced the price of gasoline will go down by P2.30 per liter, P1.85 per liter of diesel and P1.65 per liter of kerosene. Cleanfuel and Petro Gazz will impose the same price adjustments except for kerosene, which they do not carry.
All oil firms will implement the price changes at 6 am on Tuesday (April 5, 2022) while Cleanfuel will impose the price adjustment at 8:01 am during the same day. Other stations have yet to make similar announcements later this week.
The expected price cut will mark the second rollback this year after the 12 consecutive weeks of increases.
The Department of Energy (DOE) has released the latest data available showing the year-to-date adjustments. The data shows a total increase of P18.3 per liter of gasoline, P27.85 per liter of diesel, and P25.75 per liter of kerosene as of March 29, 2022.
What can you say about the expected price cut? Just feel free to leave your comments and reactions to this article.