Fuel price rollback effective July 5, 2022

fuel-price-update-july-5-2022

MANILA, PHILIPPINES — The first fuel price rollback of the month is set to take effect on Tuesday, July 5, 2022, according to industry sources.

Despite being good news, the price rollback is reported to be less than 10% of the increases so far this year.

In separate advisories, Caltex, Flying V, and Pilipinas Shell announced price rollback for diesel by P3.00 per liter, P3.40 per liter for kerosene, and no price adjustments for gasoline.

Meanwhile, Cleanfuel, Petro Gazz, Phoenix Petroluem Philippines Inc., and PTT Philippines Corp. are set to implement the same rollback for diesel.



Caltex will implement fuel price adjustments by 12:01 am on July 5, while Cleanfuel will adjust prices at 8:01 am. Other companies will implement the new prices at 6:00 am.

On June 28, fuel prices rose by P0.50/liter for gasoline, diesel by P1.65/liter, and kerosene by P0.10/liter. Meanwhile, previous price adjustments on June 21 were P0.80/liter increase for gasoline, diesel by P3.10/liter, and kerosene by P1.70/liter.

From the data provided by the Department of Energy oil monitor, the rollback is less than 10% of the year-to-date increases so far. As of June 28, 2022, the net increase for gasoline is P30.00 per liter, P45.90 per liter for diesel and P39.75 per liter for kerosene.

Earlier, Energy Undersecretary Gerardo Erguiza Jr. said that fuel prices might rise up to P100.00 per liter if the weekly increases continue. 




When asked about the factors affecting the fuel prices in the country, Erguiza said that it includes the current global demand and the geopolitical tensions between Russia and Ukraine.

Petron also said that the fuel price adjustments “reflect movements in the international oil market.” – WhatALife!

Source: (1), (2)


Also read: Fuel price hikes effective June 28, 2022

Jeraiza is a writer of Syntactics Inc. in Cagayan de Oro City. She writes for all sorts of topic to provide the right information and to keep the readers updated with the trends. A fan of all things classic, a typical bookworm with books gathering dust, and a fiction writer on weekends.

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