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Oil price rollback set on first week of January 2024
Oil price rollback set on first week of January 2024
Nation
Oil price rollback set on first week of January 2024
by Christhel Cuazon01 January 2024

Motorists will be greeted with a rollback in pump prices on Tuesday, January 2 as fuel companies announced downward adjustments.

In separate advisories, local oil firms announced that they will slash per liter of gasoline by PHP 0.10, diesel by PHP 0.35, and kerosene by PHP 1.40.

CleanFuel and Caltex will implement the price adjustments by 12:01 AM, followed by Seaoil and Petro Gazz at 6 AM.

Latest data available from the DOE indicate year-to-date net increases of PHP 12.60 per liter for gasoline, PHP 5.65 per liter for diesel, and PHP 1.24 per liter for kerosene for 2023.

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The Department of Energy Oil Industry Management Bureau previously mentioned the easing of concerns over shipping disruptions as the main reason behind the price cuts.

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