Oil price rollback set on July 16

MANILA, Philippines — Oil firms are set to implement a rollback in pump prices on Tuesday, July 16, ending four-consecutive weeks of oil price hikes. 

In separate advisories, petroleum retailers CleanFuel, SeaOil, PetroGazz and Shell announced the following price adjustments scheduled for Tuesday:

• Diesel prices - Down by P0.95 per liter
• Gasoline prices - Down by P0.60 per liter
• Kerosene prices- Down by P1.15 per liter

Last week, oil firms implemented a price hike in their pump prices.

Diesel prices were up by P9.05 per liter while gasoline prices increased by P10.85 per liter.

Kerosene prices were also up by P2.35 last week. 

SeaOil, PetroGazz and Shell oil price adjustments will take effect at 6 a.m. on Tuesday, while price adjustments for CleanFuel will be implemented at 4:01 p.m. on the same day.

Other oil firms have yet to announce their price adjustments.