cdn mobile

Oil firms announce price rollback this week

By: Daniza Fernandez - Reporter / @DFernandezINQ - Inquirer.net | April 04,2022 - 03:24 PM

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.

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.

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
Your subscription could not be saved. Please try again.
Your subscription has been successful.

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

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

TAGS: Cebu Daily News, cebu news, Cleanfuel, Seaoil, Shell
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

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

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.