Oil price rollback to happen next week
Oil companies will be implementing a price rollback on petroleum products next week.
Oil industry players have estimated a 10 to 25 centavos per liter reduction in the price per liter of diesel and 60 to 80 centavos per liter on gasoline.
This is the 3
rd week in a row that oil companies have implemented a price cut on petroleum products.
The rollback is brought about by the movement of oil prices in the world market.
(with details from Mon Jocson) /mbmf Shell, Cleanfuel to jack up prices this week
MANILA, Philippines – Oil companies have announced a price increase on gasoline products effective this week.
Over the weekend, Shell and Cleanfuel announced an additional P0.85 per liter and P0.80 per liter on gasoline, respectively.
Meanwhile, both companies also announced a price cut of P0.15 per liter on diesel.
Likewise, Shell will also slice prices on kerosene by P0.15 per liter.
The price adjustment will take effect at 6AM Tuesday (November 12) for Shell while Cleanfuel will impose their adjustment by midnight of Wednesday (November 13).
Oil companies set price adjustments on Oct 15 A Filipino motorist (L) counts money as an attendant refuels his vehicle at a gasoline station in Mandaluyong City, east of Manila, Philippines. EPA/ROLEX DELA PENA
Oil companies have implemented price adjustment effective on October 15.
Diesel and kerosene prices will have a rollback of ₱0.10 and ₱0.40, respectively, while gasoline prices will go up by ₱0.25.
Oil firms including Flying V, PetroGazz, Phoenix Petroleum, Pilipinas Shell Petroleum Corp. and PTT Philippines have already implemented the said price adjustments on Tuesday at 6:00 a.m.
—AAC Another oil price rollback set next week
Industry players are set to implement an oil price rollback next week due to the increase of fuel supply in oil exporting countries.
Diesel prices are estimated to drop from P0.85-P1.10 per liter while gasoline prices are estimated to drop from P0.75-P1.00 per liter.
For this year, there has been a net increase of P10.04/L in gasoline, P8.04/L in diesel, and P.4.87/L in kerosene.
There have been 14 oil price rollbacks implemented this year.
—AAC (with reports from Mon Jocson)