Oil Firms to Implement Another Round of Pump Price Rollback

Oil Firms to Impose Another Round of Pump Price Rollback on Tuesday (July 26)

Several oil firms in the country announced another round of pump price rollback starting on Tuesday (July 26, 2022).

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 oil companies in the Philippines informed Filipino motorists of another rollback in the prices of petroleum products including gasoline, diesel, and kerosene. It marks the fourth straight week of price rollback.

Pilipinas Shell and Seaoil Philippines Inc. announced that the price of gasoline will go down by P0.40 per liter, P1.85 per liter of diesel, and P1.30 per liter of kerosene. Petro Gazz and Cleanfuel will impose similar changes except for kerosene which they do not carry.

The Department of Energy-Oil Industry Management Bureau Director Rino Abad explained that the impending rollback was due to European Central Bank’s (ECB) interest rate hike announcement.

Oil Firms

DOE has also released the latest data available showing the total net increase, which stands at P19.30 per liter of gasoline and P34.80 per liter of diesel.

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