Oil companies to reduce pump prices



DIESEL prices for will be reduced by as much as P3 per liter by oil companies, as they announced price rollbacks effective Tuesday.

Effective Tuesday, February 7, 2023 at 6 a.m., Shell, Seaoil and Cleanfuel will cut their price per liter for diesel by P3.

Both oil companies will also slash their gasoline prices by P2.10 per liter.

Meanwhile, for kerosene, Shell and Seaoil it will be cut by P2.30 per liter.

Cleanfuel will implement the price cuts starting 12:01 a.m.

Earlier, the Department of Energy attributed the rollback to global recession fears.

During the past three weeks, pump prices were going up, mainly due to China easing up on their zero-COVID policy, resulting in an increased demand for oil.

CurrentPH News Service

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