Big-Time Price Rollback to Start on Tuesday (July 12, 2022), Gas Stations Say
PUMP PRICE ROLLBACK – Several gasoline stations in the country are set to impose a big-time price rollback starting this week.
During this time of crisis, 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 contributes to the daily burden of Filipino people especially to those who were in the public transport sector. Price rollbacks can somehow give relief to Filipino drivers.
On Monday (July 11, 2022), some oil companies in the Philippines announced a big-time rollback in the prices of petroleum products including gasoline, diesel, and kerosene. It will mark the second straight week of price reduction.
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. announced a price cut of P5.70 per liter of gasoline, P6.10 per liter of diesel, and P6.30 per liter of kerosene. Cleanfuel and Petro Gazz will implement similar changes except for kerosene which they do not carry.
All oil companies will implement the price changes at 6:00 am on Tuesday (July 12, 2022) except for Cleanfuel which will adjust prices at 8:01 am. It would be the biggest rollback this year.
Department of Energy-Oil Industry Management Bureau Director Rino Abad confirmed the expected price slash this week due to China Shanghai lockdown, the threat of recession, and interest hikes by various countries.
DOE also showed the latest year-to-date adjustments, which stand at a total net increase of P30.00 per liter of gasoline, P42.90 per liter of diesel, and P36.35 per liter of kerosene as of July 5, 2022.
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