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Oil firms to implement big-time rollback on Tuesday
Oil firms to implement big-time rollback on Tuesday
Nation
Oil firms to implement big-time rollback on Tuesday
by Ellicia Del Mundo09 October 2023
DZRH file photo

Motorists will be paying less when buying petroleum products this Tuesday, October 10, as oil firms have announced a big-time rollback.

In an advisory posted on its official Facebook page on Monday, Oct. 10, SEOIL Philippine Inc. announced that its gasoline products will go down by ₱3.05 per liter.

While its diesel products will drop by ₱2.45 per liter and kerosene products will decline by ₱3.00 per liter.

SEOIL Philippines Inc. will enforce the big-time rollback at exactly 6 AM.

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In a separate advisory posted also on its social media pages, Cleanfuel will implement the same price rollback for gasoline and diesel products, ₱3.05 and ₱2.45, respectively.

The oil price adjustment will take effect earlier, at 12:01 AM.

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Jetti Petroleum Inc. also released an advisory informing its customers that its diesel master, accel rate, and JX premium will decrease by ₱2.45 per liter, ₱3.05 per liter, and ₱3.05 per liter, respectively.

The rollback in oil prices this second week of October was above the projection of the Department of Energy (DOE).

According to DOE's latest fuel price monitoring, the oil price adjustments had led to year-to-date net increase in prices of gasoline to ₱15.30 per liter.

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The diesel prices had net increase of ₱13.80 per liter and kerosene prices of ₱8.94 per liter.

Last Oct. 3, oil firms implemented a decrease of ₱2.00 per liter for gasoline and ₱0.50 per liter for kerosene, but diesel went up by ₱0.40.

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