Details of Big-Time Oil Price Rollback on July 12, 2022
BIG-TIME OIL PRICE ROLLBACK – Oil companies confirmed that they will implement a huge rollback on the prices of petroleum products on Tuesday, July 12.
Several countries across the globe are experiencing high costs of oil products now due to the insufficient supply of oil that does not meet the global demands. Several oil reserves including those in Japan were previously released to mediate the need for oil.
The Philippines is one of the countries dealing with high costs of fuel amid the global oil problem. The prices of diesel and gasoline have reached over P90 per liter in several fuel stations following the series of oil price hikes since January 2022.
Several transport groups and other individuals called for the suspension of the fuel excise tax in the Philippines amid the high costs of oil products in the country. However, the previous administration declined the call saying that the budget is already allotted to government projects.
The current administration also expressed hesitation in suspending the fuel excise tax. President Bongbong Marcos wants to address the problem by giving subsidies to poor Filipinos affected by the high costs of fuel in the country.
Meanwhile, recently, oil companies confirmed a big-time oil price rollback set on Tuesday, July 12, 2022. Based on a report on ABS-CBN News, the rollback includes gasoline, diesel, and kerosene.
Big-Time Oil Price Rollback
SEAOIL
- Gasoline P5.70 per liter rollback
- Diesel P6.10 per liter rollback
- Kerosene P6.30 per liter rollback
Petro Gazz
- Diesel P6.10 per liter rollback
- Gasoline P5.70 per liter rollback
CleanFuel
- Gasoline P5.70 per liter rollback
- Diesel P6.10 per liter rollback
Shell
- Gasoline P5.70 per liter rollback
- Kerosene P6.30 per liter rollback
- Diesel P6.10 per liter rollback
Caltex
- Diesel P6.10 per liter rollback
- Kerosene P6.30 per liter rollback
- Gasoline (platinum and silver) P5.70 per liter rollback
You may also visit – Meralco Electric Rate To Drop this July