Oil Firms to Implement Fuel Price Rollback on Tuesday (February 7, 2023)

OIL PRICE ADJUSTMENT – Several oil firms are set to implement fuel price rollback on Tuesday (February 7, 2023).

Throughout the years, 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.

The consecutive oil price hike during the past few months contribute to the daily burden of Filipino people especially to those who were in public transport sector. Price rollbacks can somehow ease the struggles of Filipino drivers.

Gasoline stations announced a rollback on prices of petroleum products such as gasoline, diesel, and kerosene after a few weeks of increases. Filipino motorists will get a sigh of relief due to the expected price cut.

 Pilipinas Shell Petroleum Corp. and Seaoil announced that gasoline prices will go down by P2.10 per liter, P3 per liter of diesel, and P2.30 per liter of kerosene. Petro Gazz will impose similar changes except for kerosene which it does not carry.

Oil companies will implement the price changes at 6 am on Tuesday (February 7, 2023). Other gas stations are expected to make similar announcements later this week. The expected price reduction will end the three straight weeks of hikes.

The Department of Energy has released the latest data available showing a total net increase this year. The data shows a total increase of P5.90 per liter of gasoline, P2.05 per liter of diesel, and P3.20 per liter of kerosene.

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