After phased hikes, oil firms set price rollback on July 1

MANILA, Philippines — Oil companies will implement a rollback on crude prices in the first week of July, after last week’s staggered price increases.

In separate advisories, Shell, SeaOil and Caltex will implement price reductions starting July 1:

• Gasoline: P1.40 per liter
• Kerosene: P2.20 per liter
• Diesel: P1.80 per liter

CleanFuel and PetroGazz will also implement a reduction of P1.80 per liter for diesel and P1.40 per liter for gasoline.

Oil firms implemented a staggered price increase on June 24, 26 and 27 to mitigate the price hike of almost P5 per liter. 

RELATED: Staggered increases: Oil price hikes set for June 24, 26, 27

The current price adjustments are to be implemented at 6 a.m. on July 1 for Shell, SeaOil and PetroGazz. The price adjustment for Caltex will be implemented at 6:01 a.m.

Meanwhile, the price adjustment for CleanFuel will be implemented at 8:01 a.m.