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Filipino Motorists to Brace Gasoline Price Hike and Diesel Price Rollback Starting This Week

Several oil firms in the country are set to impose a gasoline price hike and diesel price rollback starting this week.

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.

Oil Firms

The gasoline stations in the Philippines announced an increase and rollback on the prices of petroleum products including gasoline, diesel, and kerosene. It will mark the 21st price adjustment this year.

The pump prices have already increased 15 times and rolled back five times since the start of 2022.

Oil companies were set to implement an increase of P3.95 per liter of gasoline. Industry players also announced a rollback of P2.30 per liter of diesel and P2.45 per liter of kerosene.

Oil Firms

Pilipinas Shell Petroleum Corporation, Cleanfuel, and PetroGazz will implement the price adjustments on Tuesday (May 24, 2022). Other oil companies are expected to make similar announcements within the week.

The Department of Energy has also released the latest available data showing the total price adjustment. The data shows a total net increase of P21.60 per liter of gasoline and P31.40 per liter of diesel.

What can you say about the expected price changes? Just feel free to leave your comments and reactions to this article.

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Read Also: Gas Stations to Impose Pump Price Rollback on Tuesday (May 17)

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