Pump price rollback set Tuesday, but not enough to offset 11 straight weeks of hikes

Philippine oil firms are set to implement on Tuesday a rollback in pump prices of petroleum products, but this will not be enough to offset the 11 weeks of successive hikes.advertisement

In separate advisories, Chevron Philippines Inc. (Caltex), Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. said they will reduce prices per liter of gasoline by P5.45, diesel by P11.45, and kerosene by P8.55.

Cleanfuel, Petro Gazz, PTT Philippines Corp., and Total Philippines Corp. will implement the same changes, excluding kerosene which they do not carry.

The changes will take effect 6 a.m. on Tuesday, March 22, 2022, except for Caltex which will implement the changes at 12:01 a.m., and Cleanfuel at 8:01 a.m. the same day. Other companies have yet to make similar announcements for the week.

The rollbacks come after 11 straight weeks of increases, and are not enough to offset the increases implemented last Tuesday alone when gasoline prices were hiked by P7.10 per liter and diesel by P13.15 per liter.

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