Fuel prices will have a rollback for the second week in a row starting Tuesday, April 12, according to oil companies.

Shell, Petro Gazz, Cleanfuel, SeaOil, and Caltex have all issued separate advisories stating that their pump prices will be decreased by P1 per liter for gasoline and P0.35 per liter for diesel.

Caltex, Flying V, Petron, and Seaoil are all reducing kerosene rates by P3 per liter.

Caltex and Cleanfuel’s price changes will take effect On April 12, at 12:01 a.m. and 8:01 a.m., respectively.

Other companies have yet to issue advisories, although they are anticipated to make similar changes.

The net year-to-date hikes for gasoline, diesel, and kerosene will be reduced to P15 per liter, P25.65 per liter, and P21.10 per liter, respectively, due to the second consecutive weekly rollback.

Global prices have dropped in the last week as major economies have declared plans to tap into their oil reserves.

Member states of the International Energy Agency decided to tap 60 million barrels of oil in addition to the US’s 180 million barrels, in an effort to temper rising oil prices partly driven by the Russia-Ukraine issue. – WhatALife! 

Source: (rappler.com)

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Also read: Fuel prices rising again this week starting March 29