MANILA, PHILIPPINES — The second fuel price rollback of the month is set to take effect on Tuesday, July 12, 2022, according to industry sources.
Department of Energy (DOE) Oil Industry Management Bureau Director Rino Abad described the new fuel price changes as a “huge rollback” on all products by around P5.00 to P6.00 per liter.
In a separate advisory, Pilipinas Shell announced price rollback for diesel by P6.10 per liter, P6.30 per liter for kerosene, and P5.70 for gasoline. Changes will take effect on July 12, 2022, at 6:00 am.
Effective 8:01 am, CleanFuel announced a price rollback for gasoline by P5.70 per liter and P6.10 per liter for diesel.
Effective 6:00 am, PetroGazz will implement a price rollback for diesel by P6.10 per liter and gasoline by P5.70 per liter.
Effective 6:00 am, SeaOil will implement a price rollback for gasoline by P5.70 per liter, diesel by P6.10 per liter, and kerosene by P6.30 per liter.
(For price advisories by other oil firms, you may bookmark this page for updates.)
Other fuel companies have yet to release new fuel price changes. However, the estimates for this week are the following:
- Diesel by P5.80-P6.30 per liter
- Gasoline by P5.30-P5.80 per liter
- Kerosene by P5.80-P6.30 per liter
On July 5, fuel prices were reduced by P3.00 per liter for diesel and kerosene by P3.40 per liter. Meanwhile, previous price adjustments on June 28 were P0.50 per liter increase for gasoline, diesel by P1.65 per liter, and kerosene by P0.10 per liter.
As of July 6, 2022, the net increase for gasoline is P30.00 per liter, P42.90 per liter for diesel, and P36.35 per liter for kerosene.
When asked about the factors affecting the fuel prices in the country, Abad cited the following reasons:
- the continued lockdown in Shanghai;
- interest rate hikes in the US and UK;
- the threat of global recession, which could lead to “demand destruction”
Oil firms usually announce new fuel price changes every Monday to be implemented on Tuesday. – WhatALife!
Also read: Fuel price rollback effective July 5, 2022