Oil Price Rollback Set This Week

Oil prices in the country go down this week after last week’s price increase.

This comes as oil firms Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell said in separate advisories that they will cut down their diesel prices by PHP1.15 per liter, while gasoline prices will also go down by PHP0.65 per liter.

Moreover, Caltex, Seaoil, and Shell are also set to decrease their kerosene by PHP1.15 per liter.

Oil prices in the country remain to be in constant fluctuation due to the Russian invasion of Ukraine.

Moreover, the COVID-19 lockdowns in China remain to be another factor in the volatile global oil market.

The year-to-date net increase for diesel prices stands at PHP30.35 per liter, the net increase for gasoline at PHP17.70 per liter, and kerosene at PHP24.10. (GFB)