Oil Companies Announce Another Fuel Price Rollback This Week

Another Fuel Price Rollback This Week, According to Oil Companies

PUMP PRICE ROLLBACK – Several oil companies announced another big-time fuel price rollback starting this week.

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 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 Companies

Recently, various gasoline stations announced that they will impose another rollback on prices of petroleum products including gasoline, diesel, and kerosene starting on Tuesday (July 19, 2022).

Seaoil Philippines Inc. announced that the prices of gasoline will go down by P5.00 per liter, P2.00 per liter of diesel, and P0.70 per liter of kerosene. Cleanfuel and Petro Gazz will impose similar changes except for kerosene which they do not carry.

Oil firms will implement the price adjustment at 6:00 am on Tuesday. It will mark the third straight week of price reduction.

Read also: Oil Industry Source Says Another Pump Price Rollback Seen Next Week

Department of Energy-Oil Industry Management Bureau Director Rino Abad said that the intermittent lockdowns in China and interest rate hikes in the US and other countries triggered the price cuts.

Abad also said that the factors could result in tempered economic activity.

Oil Companies

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Read Also: Gas Stations to Impose Big-Time Price Rollback on Tuesday (July 12)

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