Oil companies announce price rollback for fuel products

Several oil companies will implement a price rollback on diesel, gasoline, and kerosene effective Tuesday, December 12.

Diesel prices will decrease by up to P1.85 per liter, gasoline by P1.60 per liter, and kerosene by P1.40 per liter.

Most companies will implement the rollback at 6 a.m., but Caltex and Cleanfuel will adjust their prices at 12:01 a.m.

This rollback follows projections of the Oil Industry Management Bureau (OIMB) of the Department of Energy (DOE) regarding a possible oil oversupply.

These downward adjustments mark the second consecutive week for diesel prices.

Despite the rollback, year-to-date net increases remain at P12.60 per liter for gasoline, P5.70 per liter for diesel, and P1.94 per liter for kerosene as of December 5, 2023.