Pump Price Rollback to Take Effect on Tuesday (April 25), Oil Firms Say
FUEL PRICE UPDATE – Several oil firms in the country announced a pump price rollback starting on Tuesday (April 25, 2023).
Following three straight weeks of consecutive hikes in both gasoline and kerosene prices, oil companies are expected to implement a rollback on pump prices for petroleum products.
Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. will reduce gasoline prices by P1.40 per liter, diesel prices by P0.70 per liter, and kerosene prices by P0.20 per liter, according to separate announcements.
Cleanfuel and Petro Gazz will also impose similar adjustments, except for kerosene as Cleanfuel does not carry it. These changes will take effect at 6 am on Tuesday (April 25, 2023) for most gas stations with Cleanfuel changing prices at 12:01 am on the same day.
However, other oil companies have yet to make similar announcements later this week.
Gas firms increased prices per liter of gasoline and kerosene by P0.10 each and rolled back diesel prices by P0.40 last week.
The Department of Energy (DOE) releases the latest data showing a total increase of P8.50 per liter for gasoline as of April 18, 2023, and net drops of P2.35 per liter for diesel and P3.35 per liter for kerosene.
It remains to be seen if other oil firms will follow suit and announce similar price adjustments in the coming weeks. It is important for motorists to stay updated on fuel prices and continue practicing fuel-efficient habits, as fuel prices can be volatile and subject to various factors such as global oil prices, currency exchange rates, and local taxes.
What can you say about the expected oil price rollback? Just feel free to leave your comments and reactions to this article.
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