1. Diesel price rollback
2. Gasoline price reduction
3. Fuel cost savings
Good news for motorists in the Philippines as oil companies have announced a rollback in pump prices effective Tuesday, June 11. Gasoline prices will be reduced by 60 centavos per liter, diesel by P1.20 per liter, and kerosene by P1.30 per liter. The price adjustments will be led by Cleanfuel at 12:01 a.m. followed by Shell Pilipinas and Seaoil at 6 a.m. This reduction comes after a mixed adjustment last week. The decrease is attributed to global events such as the extended global oil production cut. Stay updated with the latest oil price changes by following the news.
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Good news for motorists in the Philippines as oil companies have announced a rollback in local pump prices of oil products effective Tuesday, June 11. This move comes as a relief to many consumers who have been feeling the pinch of high fuel prices in recent weeks.
According to the announcement, gasoline prices will be reduced by 60 centavos per liter, while diesel will see a decrease of P1.20 per liter. Kerosene prices will also go down by P1.30 per liter. These adjustments will take effect at different times, with Cleanfuel leading the way at 12:01 a.m. on Tuesday, followed by Shell Pilipinas and Seaoil at 6 a.m.
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This reduction in prices comes just a week after a mixed adjustment in which gasoline prices fell by 90 centavos per liter, while diesel and kerosene prices increased by 60 centavos and 80 centavos, respectively. The fluctuating prices have been influenced by various global events affecting oil production and demand.
Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, attributed the pump price reduction to factors such as the extended global oil production cut. The Organization of the Petroleum Exporting Countries and its allies have agreed to continue their voluntary production cuts until the end of the year in response to concerns over weakening demand growth, high interest rates, and increased production from the United States.
With these developments, motorists can look forward to some relief at the pump as fuel prices are adjusted to reflect the current global market conditions. The reduction in pump prices will help ease the burden on consumers who rely on their vehicles for daily transportation and other essential activities.
It’s important to stay informed about changes in fuel prices and how they are influenced by global events. Keeping track of these developments can help consumers make informed decisions about their transportation expenses and budget accordingly.
In conclusion, the rollback in diesel prices by P1.20 per liter and gasoline by 60 centavos per liter is a welcome development for motorists in the Philippines. This adjustment comes in response to global factors affecting oil production and demand, providing some relief to consumers who have been facing high fuel prices. Stay informed about changes in pump prices and how they may impact your budget to make the most of these adjustments.