Good news motorists! Oil players have just announced that they will be rolling back fuel prices starting tomorrow August 16, 2022. However, unlike last week's fuel price adjustments, the price cuts for this week are smaller.
Starting with diesel, pump prices will go down by PHP 1.10 per liter. Gasoline, on the other hand, will only receive a minor PHP 0.10 rollback. Last but not least, kerosene will become cheaper by PHP 0.45 per liter.
Oil players such as Caltex, Cleanfuel, PetroGazz, Seaoil, and Shell have already released advisories regarding the fuel price rollback for tomorrow. Caltex will adjust prices as early as 12:01 AM tomorrow, while PetroGazz, Seaoil, and Shell will lower pump prices at 6:00 AM. As for CleanFuel, they will drop gasoline and diesel prices at 8:01 AM.
Other oil companies are expected to make similar announcements within the day.
While fuel prices are still far from pre-2022 rates, the upcoming fuel price rollback is still a welcome one. In fact, tomorrow's rollback will be the 7th straight week that pump prices have gone down, undoing the all-time high prices that plagued motorists earlier this year.
Let's just hope that there will be more rollbacks in the coming weeks.