Gas Stations Set to Impose Pump Price Rollback This Week
Several gas stations in the country were set to impose a pump price rollback starting on Tuesday (May 17, 2022).
During this modern generation, 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.
The oil companies in the Philippines announced a price reduction on prices of petroleum products including diesel, gasoline and kerosene. It will mark the sixth fuel price rollback this year.
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. will impose a price reduction of P0.40 per liter of gasoline, P3.10 per liter of diesel and P2.10 per liter of kerosene.
Cleanfuel will implement the same price adjustment except for kerosene which it does not carry.
All oil firms will implement the changes at 6:00 am on Tuesday except for Cleanfuel, which will impose the price adjustment at 8:01 am. Other companies have yet make further announcement this week.
The Department of Energy has also reported that the latest year-to-date adjustments stand at a net increase of P22.00 per liter of gasoline, P34.50 per liter of diesel, and P29.75 per liter of kerosene as of May 10, 2022.
What can you say about this expected price reduction? Just feel free to leave your comments and reactions to this article.
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