Oil Firms to Implement Mixed Price Adjustments on Tuesday (August 2, 2022)
Various oil firms in the country announced an increase on gasoline prices and rollback on prices of diesel and kerosene.
Throughout the years, the prices of petroleum products play a very important role to the global economy. Pump price adjustment usually causes significant impact on prices of products and services in the country.
Oil price hikes usually contribute to the daily burden of Filipino people, especially to those who were using public vehicles for a living while rollbacks can somehow ease the struggles of Filipino drivers.
Recently, the gasoline stations in the country are set to implement mixed adjustments in the prices of petroleum products including gasoline, diesel, and kerosene along with the lower adjustment of liquefied petroleum gas.
Pilipinas Shell Petroleum Corp. announced an additional P0.75 per liter of gasoline, P0.60 cut per liter of diesel, and P0.75 per liter of kerosene. Cleanfuel and Petro Gazz will impose similar changes except for kerosene which they do not carry.
Oil firms also announced a rollback on prices of LPG, which marks the fourth straight month of price reduction. Petron Corp. will slash LPG prices by P2.05 per kilogram and AutoLPG prices by P1.15 per liter.
All companies will implement the changes at 6 am on Tuesday (August 2, 2022) except for Cleanfuel which will adjust prices at 8:01 am. Other firms have yet to make similar announcements later this week.
Meanwhile, the Department of Energy has released the latest data available showing the year-to-date adjustments. The data shows a total net increase of P18.90 per liter of gasoline, P32.95 per liter of diesel, and P28.05 per liter of kerosene as of July 26, 2022.
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