PHP 1.85 price cut for diesel, PHP 1.65 for kerosene
Still got fuel left in the tank? You might wanna stretch that out until tomorrow.
As expected, the rollback this week will favor gas buyers. Pilipinas Shell and Seaoil will be implementing a PHP 2.30 rollback on gasoline, PHP 1.85 on diesel, and PHP 1.65 on kerosene. These price adjustments for both companies will take effect tomorrow, April 5 at 6:00 AM. On the other hand, PetroGazz and CleanFuel will adjust the prices of their diesel and gasoline products at 8:01 AM.
Other oil players in the country are yet to make official announcements, but they are expected to impose similar rollbacks as well.
These are slight rollbacks for fuel products compared to last week's huge price bump, especially for diesel. But nevertheless, price cuts will always be welcomed by motorists.
The downward trend of oil prices is attributed to recent global events. Oil demand has slowed down because of the lockdown in Shanghai, China, and the US announced the release of their oil reserves. Furthermore, the halting of military operations in Yemen against the Houthi group has alleviated concerns about supply issues in the Middle East.
Of course, like in the previous weeks, big price movements will continue to be a see-saw affair, which is why it's advisable to take advantage of these price cuts whenever they happen.