Gas Stations to Implement Another Round of Pump Price Rollback This Week
Several gas stations in the country announced another round of pump price rollback starting on Tuesday (August 9, 2022).
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 contributes 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.
Various oil companies in the Philippines announced another round of rollback on the prices of petroleum products including gasoline, diesel, and kerosene. The looming price reduction will give a sigh to Filipino motorists.
Pilipinas Shell announced that the prices of gasoline will go down by P2.10 per liter, diesel will be slashed by P2.20 per liter, and P2.55 per liter of kerosene. Petro Gazz and Cleanfuel will impose similar price changes except for kerosene, which they do not carry.
The price rollback was due to the declines in fuel demand over fears of a global recession leading to oversupply.
The Department of Energy has also released the latest data available showing year-to-date total adjustments to stand at a net increase of P19.65 per liter of gasoline, P32.35 per liter of diesel, and P27.30 per liter of kerosene.
The social media users expressed their reactions to the expected rollback:
What can you say about the looming price reduction? Just feel free to leave your comments and reactions to this article.