New oil price rollback

April 11, 2022 Edd Reyes 66 views

BIG and small oil companies unleashed on Monday their second wave of fuel price cuts, marking the companies 3rd price decrease this year, which would take effect on Tuesday, April 12, 2022.

Major oil firm Chevron Philippines was first to announce the rollback of its diesel products by a small amount of P0.35 centavos per liter, gasoline by P1.00 per liter, and kerosene by P3.00 per liter effective at 12:01 a.m. Tuesday while Petron Philippines, Pilipinas Shell, and independent oil firms Seaoil and Flying V will impose the same price adjustments at 6:00 a.m.

Thai-led PTT Philippines, Total Philippines, Phoenix Petroleum, PetroGazz, Unioil Philippines, and Jetti Oil will also reduce the pump prices of their gasoline and diesel products by the same uniform amounts, also at 6:00 a.m. Tuesday, while Clean Fuel at 8:01 a.m.

Other small oil firms have yet to announce an adjustment as of press time, although they would likely follow suit if the past few weeks are any indication.

PTT Philippines Communication Officer Jhay Julian said the slight fall in domestic pump prices reflects movements in the international oil market.