DOE Announces Another Fuel Price Rollback Starting Tuesday (May 7, 2024)

PUMP PRICE UPDATE – Various oil firms in the country are set to implement fuel price rollback starting Tuesday (May 7, 2024).

Filipino motorists across the Philippines will get a sigh of relief at the pumps starting Tuesday as fuel prices are set to decrease for the second consecutive week for gasoline and the third consecutive week for both diesel and kerosene.

Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. disclosed their plans to reduce the prices of gasoline by P0.75 per liter, diesel by P0.90 per liter, and kerosene by P1.05 per liter.

Similarly, Cleanfuel and Petro Gazz are following similar price adjustments, although they do not carry kerosene in their product lineup.

For most companies, these price changes will take effect at 6 a.m. However, Cleanfuel will apply the adjustments at 12:01 a.m. on the same day.

While Cleanfuel, SeaOil, PetroGazz, and Shell have made their announcements, other companies are yet to reveal their plans for the week.

Pump prices saw mixed adjustments last week, with gasoline prices increasing by P0.25 per liter and diesel prices decreasing by P0.45 per liter. Prices for kerosene have dropped by P0.90 per liter.

As of April 30, 2024, the year-to-date adjustments indicate a net increase of P10.00 per liter for gasoline, P5.60 per liter for diesel, and an increase of P0.25 per liter for kerosene.

With the looming rollback in pump prices, motorists can get a little relief as they expect lower expenses at the fuel station.

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