Big-time oil price rollback in 2nd week of August

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Big-time oil price rollback in 2nd week of August

Benise Balaoing,

ABS-CBN News

 | 

Updated Aug 12, 2024 12:45 PM PHT

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MANILA -- There will be a big rollback in fuel prices in the second week of August.

Oil companies announced the following price rollbacks effective August 13, Tuesday:

CALTEX, PILIPINAS SHELL, SEAOIL (effective 6 a.m.)

Gasoline - P2.45/L decrease

Kerosene - P2.40/L decrease

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Diesel - P1.90/L decrease

PETROGAZZ, PTT PHILIPPINES, JETTI PETROLEUM (effective 6 a.m.)

Gasoline - P2.45/L decrease

Diesel - P1.90/L decrease

CLEANFUEL (effective 12:01 a.m.)

Gasoline - P2.45/L decrease

Diesel - P1.90/L decrease

The Department of Energy had earlier said that factors driving oil prices downward are a stronger peso, concerns of a recession, weaker China consumption, and a worsening outlook for the global economy.

More details to follow. 

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