Renew Insurance

Oil companies to implement rollback of more than P2 on all pump products

fuel pump

Fuel companies on Monday announced that it will continue its string of price rollbacks — and this time, they will be imposing a cutdown of more than P2 per liter on all products at the pump starting tomorrow.

KEY TAKEAWAYS

  • How much price reduction will companies implement tomorrow?

    They will be reducing P2.40 per liter on gasoline, P2.65 on diesel and P2.70 per liter on kerosene.

  • How many oil price rollbacks have the companies made since last month?

    Since November up to tomorrow, oil firms will have six consecutive price slashes. 

    • In their respective advisories, Petron, Pilipinas Shell, Caltex, Cleanfuel, Flying V and Seaoil announced that it will be trimming down P2.40 per liter on gasoline and P2.65 on diesel.

    Aside from that, most of the abovementioned oil firms will also be slashing P2.70 per liter on kerosene.

    Fuel station

    Other players are expected to implement the same movement.

    The price reduction is the first adjustment that oil firms will implement for the month of December. In November, oil companies made five straight rollbacks.

    Last November, the price of gasoline went down by P1.10 per liter, diesel P0.60 per liter and kerosene by P0.50 per liter.

    Photos from Ruben D. Manahan IV

    Also read:

    Local Oil Chief says Global Oil Price Collapse Good for Import-Dependent PH

    Top 24 Fuel Efficient Cars In The Philippines

    5 Tips on How To Get Better Fuel Economy while Driving on Highway

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