Oil Companies Announced Another Fuel Price Rollback Starting on Tuesday (May 3)
OIL PRICE ROLLBACK – Various oil companies the country are set to implement the fourth fuel price rollback for 2022.
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.
The consecutive oil price hike during the past few months contribute to the daily burden of Filipino people especially to those who were in public transport sector. Price rollbacks can somehow ease the struggles of Filipino drivers.
On Monday (May 2, 2022), the gasoline stations in the Philippines have announced a price cut on prices of petroleum products such as gasoline, diesel and kerosene. It will mark the fourth price rollback this year.
Cleanfuel, Petro Gazz, PTT Philippines, and Seaoil announced that the price of gasoline per liter will go down by P0.65, P1.15 per liter of dieel. Seaoil will reduce the prices of kerosene by P1.15 per liter.
The impending price rollback followed that major price increase last week. All oil firms will implement the price adjustments at 6:00 am on Tuesday (May 3, 2022) while Caltex will impose price changes at 12:00 am and Cleanfuel at 8:01 am on the same day.
The Department of Energe released the latest date available showing total price price increase as of April 26, 2022. The data shows a total increase of ₱18.45 per liter of gasoline, ₱31.45 for diesel, and ₱25.05 for kerosene.
Other gas stations are expected to make further announcement later this week.
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