We have good news for you this week. Gasoline, diesel, and kerosene prices are rolling back by a bit. The change will happen by October 25, 2022, starting at 6:00 AM for some stations or earlier for others.
Motorists can expect a fuel price rollback starting tomorrow. Gasoline prices will drop by a small amount, P0.35 per liter, while diesel prices will roll back by P1.10 per liter. Kerosene, never to be left out of the party, will also get a rollback set at P0.45. The price adjustment is on the small side, and it was in stark contrast to the monumental increase we experienced last week.
Oil companies like Cleanfuel, Seaoil, Shell, and Petrogazz have made their announcements over the weekend, and the new prices will reflect starting at 6:00 AM for all except for Cleanfuel who will make the changes as early as 12:01 AM, October 25, 2022. Aside from the companies mentioned, expect a similar adjustment around the same price tomorrow.
The price rollback doesn’t have a specific reason this time around. It could be attributed to global market price fluctuations, and oil may still be expected to go up in price in the next few months due to OPEC+’s decision to reduce oil production by 2,000,000 barrels per day next month.
Until then, rollbacks are welcome no matter how small. This time around, it’s a small adjustment, but expect a bunch more fluctuations to come our way going into the month of November 2022 when OPEC+’s decision will take effect. Prices could go up and then eventually back down.
Motorists, be sure to hold off fueling up if you want to make the most out of your hard-earned money. Either that or gas up a little bit, after all, the rollback is relatively minimal. If you find yourself in a pinch, fuel up a bit then reserve your full tank for the next day.