Oil Firms to Impose Another Pump Price Rollback on tuesday (September 6)
Different oil firms in the country announce another round of pump price rollback this week after consecutive weeks of increase.
Over the past few decades, the price of petroleum products is important to the economy of the nation. Pump price adjustments typically have a considerable impact on the nation’s prices for goods and services.
The recent string of oil price increases has added to Filipinos’ daily burdens, particularly for those employed in the public transportation industry. Price reductions may help Filipino drivers who are struggling.
Various oil companies announced a rollback of prices of petroleum products including gasoline, diesel, and kerosene. The expected rollback marks the second week of price cuts after two straight weeks of hikes.
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. announced that the prices of gasoline will go down by P2.60 per liter of gasoline, P1.55 per liter of diesel, and P1.60 per liter of kerosene.
Cleanfuel will impose a similar price adjustment excluding kerosene which it does not carry. The price changes for all gas stations will take effect at 6:00 am on Tuesday (September 6, 2022) except for Cleanfuel, which will implement the adjustments at 12:01 am.
Other oil firms have yet to make similar announcements later this week.
The Department of Energy (DOE) has released the latest data available data indicating the year-to-date total adjustments stood at a net increase of P19.55 per liter of gasoline, P37.80 per liter of diesel, and P33.20 per liter of kerosene as of August 30, 2022.
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