Oil players to conduct big-time price rollback tomorrow
Oil players in the Philippines on Monday announced that it will conduct more price cuts at the pump this week following the two consecutive downward adjustments since the last week of April 2023.
KEY TAKEAWAYS
How much will be the fuel price adjustments for May 9, 2023?
Companies will reduce the prices of gasoline products by P2.20 per liter, diesel by P2.70 per liter, and kerosene by P2.25 per liter.What time will the adjustments take place?
The adjustments could reflect as early as 12:01 a.m. tomorrow.Based on their respective advisories, Caltex, Cleanfuel, Petron, Seaoil, and Unioil are set to slash P2.20 per liter on the pump price of gasoline products and P2.70 per liter on diesel.
In addition, many of the aforementioned companies stated that they will reduce the retail price of kerosene by P2.55 per liter.
The movement of price at the pump — which other fuel companies are expected to follow suit — shall begin at 12:01 a.m. tomorrow (May 9).
Last week, the price of gasoline went down by P1.50 per liter, diesel by P1.30 per liter, and kerosene by P1.40 per liter.
Photos from Ruben Manahan IV
Also read:
Oil firms to stop April 2023 pump price hikes
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