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Oil firms in Philippines to roll back fuel prices on June 6

Tan KW
Publish date: Mon, 05 Jun 2023, 09:50 PM
Tan KW
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MANILA : Motorists will finally get a reprieve from the recent price increases in petroleum products, after local oil firms announced rollbacks by as much as 60 centavos per litre, effective Tuesday (June 6).

In separate advisories, oil companies said they would slash the prices of gasoline by 60 centavos per litreand diesel by 30 centavos per litre.

Kerosene will also see a decline of 60 centavos per litre.

CleanFuel will implement the price adjustments by 12:01am, followed by Shell Pilipinas and Seaoil at 6am.

This ends a three-week streak of price hikes for gasoline and continues the series of rollbacks for kerosene for a third week.

On May 30, oil firms increased the pump price of gasoline by P1.10 per litre, while the price of kerosene decreased by 35 centavos per litre. Diesel had no movement last week.

This resulted in a year-to-date net decrease of P5.05 per litre for diesel and P6.75 per litre for kerosene, according to the Department of Energy.

Gasoline, on the other hand, had a net increase of P6.10 per litre.


  - ANN


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