Oil companies will roll back prices for gas, diesel, and kerosene
Motorists who have been eagerly awaiting another fuel price rollback rejoice. Several oil players have just announced they will be dragging back prices for gasoline, diesel, and kerosene.
This will be the fifth consecutive week fuel prices will go down. But unlike last week which saw prices drop significantly, this week's rollback is smaller. Gasoline prices will go down PHP 0.40 per liter while diesel will roll back PHP 0.45 per liter. Last but not least, kerosene will drop PHP 0.85 per liter.
Oil players such as Caltex, Cleanfuel, Petrogazz, Seaoil, and Shell have already announced they will be adjusting prices accordingly tomorrow. Caltex and Cleanfuel will lower their prices starting at 12:01 AM while Petrogazz, Seaoil, and Shell will only roll back prices beginning at 6:00 AM.
The slight decrease in fuel prices is attributed to the continued weakening of the Philippine Peso against the US Dollar, along with higher freight costs. Motorists might be disappointed with the lower rollback, but it's still a win-win for both public and private motorists.
In case you still have fuel left in the tank, better hold onto that and visit your nearest filling station tomorrow morning.