Several oil companies have confirmed the new set of oil price rollbacks set to take effect on Tuesday, July 19.
Gasoline prices will go down by P5.00 per liter, diesel by P2.00 per liter, and kerosene by P0.70 for Shell, Clean Fuel, Petro Gazz, and Seaoil customers.
“Primarily, said rollback is attributed to the temper in oil demand of China due to COVID cases and the threat of global recession and economic slowdown,” Department of Energy-Oil Industry Management Bureau Asst. Dir. Rodela Romero said.
A P1.70 to P4.90 per liter rollback was forecast last Friday, July 15, to take effect this week, with gas prices ranging from P71.49 to P90.65 from July 12 to 18. – Report from Naomi Tiburcio/AG – gb
