Fuel Prices Rolled Back

MANILA, Philippines - Oil companies will reduce their pump prices on Sunday.

At 12:01 a.m., major player Petron Corp. and small player Seaoil Philippines will slash P0.65 per liter off their respective prices of premium gasoline (including unleaded), P0.50 per liter off regular gas, P0.40 per liter off diesel and P0.25 per liter off kerosene.

Flying V, another small oil firm, said it would shed P0.60 per liter from premium gasoline prices and P0.50 per liter from regular, diesel, and kerosene.

"This (adjustment) is to reflect the movements in the international oil market," Petron said in a text advisory sent Saturday afternoon.

Effective 1 am Sunday Shell will likewise reduce its pump price for FuelSave Unleaded Gasoline, Shell Super Premium Unleaded and Shell VPower by P0.65 per liter; Shell FuelSave Diesel & Shell VPower Diesel by P0.40 per liter; kerosene, P0.25/liter ; Regular , P0.50/liter.

The Department of Energy (DoE) predicted a few days ago that local petroleum prices would drop this coming week due to the softening prices in the international market.

Oil firms are coming off sweeping price rollback last week wherein prices of unleaded was decreased by P1 per liter, kerosene by P0.90 per liter, regular by P0.70 per liter and diesel by up to P0.80 per liter.

source/s: Yahoo!news

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We all know that one of the problems that the Philippine Government encounter is the increasing of Petrol prices. Now, I'm happy to share with everyone my article. Rollback of Fuel prices is pleasing to the masses and a great news for everybody. First reason for us to celebrate is the lower fare price, we can now enjoy the jeepney ride with lesser deduction in our daily allowances. Second is the "bagsak-presyo" of basic commodities in the market. A rollback in fuels also affects the prices of basic and prime commodities, that's why there's a decrease in commodity prices. Isn't that great?


When a rollback in fuels happen, not all the people in the world celebrates. As the price of fuel reduces, definitely, the oil companies' profit will be reduced. A decrease in oil price means for oil companies less profit in the overall scheme because the rise in oil price will be passed to the end consumer, so when oil prices go down oil companies will make less money.

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Always bear in mind: No matter what the price of fuel is, when it changes, the change is passed to the end consumer.