Fuel Firms Announce Oil Price Rollback This Week
FUEL PRICE UPDATE – Various petroleum companies in the country are set to implement an oil price rollback this week.
Starting Tuesday, May 6, 2025, Filipino motorists will have a bit of relief this week as several fuel companies are lowering their pump prices. After two weeks of continuous price hikes, this rollback brings good news for motorists across the country.
The price changes will take effect early in the morning. Shell, Caltex, and Seaoil will apply the new rates at 6:00 a.m., while Cleanfuel will follow at 8:01 a.m. Although Cleanfuel is joining the rollback, it does not sell kerosene.
The adjustments are as follows: gasoline will go down by P0.55 per liter, diesel will be reduced by P0.65 per liter, and kerosene will drop by P0.90 per liter. Other fuel providers, such as PetroGazz, are expected to implement similar price cuts.
These rollbacks are happening after a significant rise in fuel prices over the past two weeks, where gasoline went up by P1.35 per liter, diesel by P0.80, and kerosene by P0.70.
The Department of Energy reports that gasoline and diesel have increased by a total of P3.65 per liter so far this year, while kerosene has seen an overall decrease of P1.10 per liter.
The recent drop in prices is mainly due to global market conditions. An oversupply of oil and growing concerns about the impact of international trade policies have led to lower demand forecasts, which affected the price cut.
As more companies follow the rollback, motorists can enjoy temporary savings. However, with the global oil market still uncertain, prices may continue to shift in the coming weeks.
The looming oil price cuts will bring some welcome relief for consumers at the pump.
This is a developing report, just visit this website regularly or refresh the page for further updates and information.
READ ALSO: Gas Stations Eye Oil Price Rollback Next Week