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Oil Companies to Impose Rollback on Prices of Diesel & Kerosene, Gasoline Price to Retain

The oil companies in the country announced a rollback on prices of diesel and kerosene while gasoline price will retain.

Over the past few months, 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 contributed to the daily burden of Filipino people, especially those who were in the public transport sector. Price rollbacks can somehow ease the struggles of Filipino drivers.

Rollback

Several gasoline stations in the Philippines announced another adjustment in the prices of petroleum products including gasoline, diesel, and kerosene. Gasoline prices are expected to retain while diesel and kerosene prices will have a rollback.

Pilipinas Shell Petroleum Corp announced a rollback of P3.00 per liter of diesel and P3.40 per liter of kerosene while there are adjustments for gasoline. Cleanfuel and Petro Gazz will impose similar price changes except for kerosene they do not carry.

All oil companies will implement the price adjustments at 6:00 am on Tuesday (July 5) except for Cleanfuel which will adjust prices at 8:01 am.

Rollback

The impending rollback will give reprieve to the motorists after four straight weeks of increases for gasoline and five straight weeks for both diesel and kerosene.

The Department of Energy released the latest data showing the total net increase, which stands at P30.00 per liter of gasoline, P45.90 per liter of diesel, and P39.75 per liter of kerosene as of June 28, 2022.

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: Oil Firms Expect Fuel Price Rollback Starting Next Week

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