Oil Firms Set To Impose Big-Time Rollback Starting Tuesday (December 7)

The

oil companies

in the country is set to implement a big-time rollback in the pump prices of petroleum products starting this week.

The prices of petroleum products play a very important role to the country’s economy. Pump price adjustment usually causes significant impact on prices of products and services in the country.

Pump price hike

just contributes to the daily burden of Filipino people especially to those who were using public vehicles for a living and to individuals using private vehicles to reach their point of destination.

Several gasoline stations will start to impose a big-time rollback on prices of petroleum products including gasoline, diesel and kerosene. It will mark the fifth straight week of price reduction.

Pilipinas Shell Petroleum Corp. released an advisory announcing that the price of gasoline will decrease by P2.40 per liter, 2.65 per liter of diesel and P270 per liter of kerosene.

Cleanfuel announced that the company will impose similar price adjustment except for kerosene which they do not carry. Other oil companies have yet to make similar announcements later this week.

The price changes will start on Tuesday (December 7, 2021). All companies will start the price adjustments at 6:00 am except for Cleanfuel which will adjust prices at 8:01 am.

The Department of Energy (DOE) released the latest data available showing the year-to-date adjustments. The data shows a net increase of P18.10 per liter for gasoline, P15.70 per liter for diesel, and P13.19 per liter for kerosene.

What can you say about the

oil price adjustment

? Just feel free to leave your comments and reactions to this article.

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