Oil firms to roll back fuel prices on June 6
Motorists will finally get a reprieve from the recent price increases in petroleum products, after local oil firms announced rollbacks by as much as 60 centavos per liter, effective Tuesday, June 6.
In separate advisories, oil companies said they would slash the prices of gasoline by 60 centavos per liter and diesel by 30 centavos per liter.
Kerosene will also see a decline of 60 centavos per liter.
CleanFuel will implement the price adjustments by 12:01 a.m., followed by Shell Pilipinas and Seaoil at 6 a.m.
This ends a three-week streak of price hikes for gasoline and continues the series of rollbacks for kerosene for a third week.
On May 30, oil firms increased the pump price of gasoline by P1.10 per liter, while the price of kerosene decreased by 35 centavos per liter. Diesel had no movement last week.
This resulted in a year-to-date net decrease of P5.05 per liter for diesel and P6.75 per liter for kerosene, according to the Department of Energy.
Gasoline, on the other hand, had a net increase of P6.10 per liter.