Oil price rollback set Tuesday

FILE: A gasoline attendant fills up the fuel tank of a jeepney along Emilio Aguinaldo Highway, in Barangay Salitran 1, Dasmarinas City, Cavite on Tuesday (Sept. 20,2022). Some oil companies have rolled back prices of diesel by PHP4.15 per liter and kerosene by PHP4.45 per liter. (PNA photo by Gil Calinga)

By Anna Leah Gonzales, Philippine News Agency

MANILA – After two consecutive weeks of oil price hikes, motorists are expected to enjoy lower pump prices as firms are set to implement a rollback on Tuesday.

In separate advisories on Monday, PetroGazz, CleanFuel, Shell, and Seaoil said they will slash diesel and gasoline prices by PHP0.80 and PHP0.90 per liter, respectively.

Shell and Seaoil will also slash kerosene prices by PHP1.40 per liter.

Other oil firms are expected to follow suit.

Last week, oil companies implemented an increase of PHP0.70 per liter for gasoline, PHP0.

40 per liter for diesel and PHP0.20 per liter for kerosene.

Data from the Department of Energy showed that as of Feb. 25 this year, both gasoline and diesel have a total net increase of PHP4.75 per liter while kerosene has total net increase of PHP2.90 per liter.