Several oil firms in the country confirmed another round of pump price rollback this week, which will give a sigh of relief to Filipino motorists.

Throughout the years, the price of petroleum products is important to the economy of the nation. Pump price adjustments typically have a considerable impact on the nation’s prices for goods and services.

The recent string of oil price increases has added to Filipinos’ daily burdens, particularly for those employed in the public transportation industry. Price reductions may help Filipino drivers who are struggling.

Different oil companies in the Philippines announced another round of rollback on prices of petroleum products such as gasoline, diesel, and kerosene. It will mark the fourth straight week of rollbacks for diesel and kerosene.

Seaoil Philippines Inc. announced the prices of gasoline will go down by P1.65 per liter, P1.25 per liter of diesel, and P1.35 per liter of kerosene. Cleanfuel and Petro Gazz will impose similar changes except for kerosene which they do not carry.

All firms will implement the price adjustment at 6:00 am on Tuesday (September 27, 2022) except for Cleanfuel which will implement the price rollback as early as 12:01 am.

Other gasoline stations have yet to make similar announcements later this week.

The Department of Energy (DOE) released the year-to-date total adjustments, which stand at a total net increase of P18.15 per liter of gasoline, P31.70 per liter of diesel, and P27.10 per liter of kerosene as of August 23, 2022.

What can you say about the looming price reduction? Just feel free to leave your comments and reactions to this article.

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