Gas Stations to Implement Oil Price Rollback This Week
FUEL PRICE ADJUSTMENT – Several gas stations announced another rounds of oil price rollback on Tuesday (March 27, 2023).
It has been announced that starting Tuesday, March 28, 2023, motorists in the Philippines will enjoy another round of cuts in pump prices for gasoline, diesel, and kerosene. This marks the second week of consecutive rollbacks for gasoline and the third straight week of price slash for diesel and kerosene.
Pilipinas Shell Petroleum Corp. has announced that it will reduce gasoline prices by P0.85, diesel prices by P1.30, and kerosene prices by P1.90 per liter. Cleanfuel will make the same adjustments, with the exception of kerosene, which they do not carry.
Shell will implement the price adjustments at 6 a.m. on Tuesday, March 28, 2023 while cleanfuel will impose price changes 12:01 a.m. the same day. However, as of the time of writing, no similar announcements have been made by other oil firms for the week.
Last week, oil firms in the Philippines also decreased the prices per liter of gasoline by P1.20, diesel by P1.85, and kerosene by P2.00.
According to the most recent information provided by the Department of Energy (DOE), as of March 21, 2023, there has been a net increase of P5.50 per liter for gasoline year to date, while there have been net declines of P2.85 per liter for diesel and P3.65 per liter for kerosene.
These price cuts are welcome news for motorists who have been grappling with high fuel prices in recent months. The ongoing pandemic and geopolitical tensions have contributed to the volatility in oil prices worldwide. However, with the downward trend in fuel prices in the Philippines, motorists can expect some relief in their expenses while on the road.
What can you say about the looming price rollback? Just feel free to leave your comments and reactions to this article.
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