Oil firms announce price rollback this week | Inquirer News

Oil firms announce price rollback this week

/ 03:13 PM April 04, 2022
FILE PHOTO: The Russia-Ukraine conflict may take its toll on oil prices.

FILE PHOTO: The Russia-Ukraine conflict takes its toll on oil prices.

MANILA, Philippines — Expect oil price rollback this week, starting April 5, petroleum firms announced Monday.

Shell, Cleanfuel, Petro Gazz, SeaOil, Caltex, and Metro Oil said that their diesel price will be trimmed by P1.85 per liter and their gasoline cost will be cut by P2.30 per liter.

ADVERTISEMENT

Kerosene price, which is offered by Shell, SeaOil, Caltex, and Metro Oil, will be slashed by P1.65 per liter.

The price adjustment will take effect on Tuesday, 6 a.m. except for Cleanfuel and Caltex.

FEATURED STORIES

Caltex and Cleanfuel’s price rollback will be effective Tuesday, 12:01 a.m. and 8:01 a.m, respectively.

The rollback came after United States President Joe Biden declared the release of oil from their strategic petroleum reserve.

Earlier, a series of oil price increases ensued following Russian’s invasion of Ukraine and the subsequent sanctions imposed on Russia, a key crude producer.

EDV

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: oil price rollback, Petroleum, rollback
For feedback, complaints, or inquiries, contact us.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.



© Copyright 1997-2023 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.