Published: Sunday 22 July, 2018

‘Bigtime’ Oil Price Rollback July 24: Gasoline, Diesel, Kerosene Price Cuts Expected

After several weeks of price increases, a round of price cuts are expected for gasoline, diesel and kerosene on Tuesday, July 24. This according to Philippine oil ‘cartel’ sources.

Oil price rollback

Gasoline, diesel and kerosene prices go down this week, the second time for July.

They’re calling it a ‘bigtime’ oil price rollback, or a decrease of around P1.00 per liter based on the trading prices of crude oil last week.

The official price cuts will be announced on Monday.

UPDATE: Pilipinas Shell has already announced its price decreases on Sunday night. According to a dzBB radio report, the Shell price rollbacks are as follows:

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Gasoline – P0.70 per liter
Diesel – P1.00/liter
Kerosine – P1.25/liter

And, since the local oil industry operates like a cartel, the price will be the same for all local oil companies even if they announce it separately.