This week is the P3 diesel rollback.
MANILA – Beginning Tuesday, motorists may expect a significant price reduction on diesel goods.
Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell have all declared that diesel prices will be cut by PHP3.10 per liter.
However, this week’s pullback is less than last Tuesday’s PHP4.20-per-liter hike in diesel and gasoline prices by oil companies.
Petrol prices will be reduced by PHP0.40 per liter by the same oil companies.
Caltex, Seaoil, and Shell will all reduce the price of kerosene by PHP2.10 per liter.
The changes to oil prices will take effect at 12:01 a.m. on Tuesday.
Diesel prices have increased by PHP33.40 per liter since the beginning of the year, while gasoline prices have increased by PHP21.25 per liter and kerosene prices have increased by PHP28.80 per liter.
Oil prices have been fluctuating in recent weeks, with increases primarily driven by the ongoing conflict between Russia and Ukraine, while pandemic-related limitations have attempted to keep crude oil prices down.
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