Rollback: Diesel, gas prices cut by PHP 2.80, PHP 0.75

While the first week of 2023 greeted us with raised fuel prices for both diesel and gasoline, this week will fare much better for our dear motorists.

Oil companies will impose a PHP 2.80 per liter rollback on diesel tomorrow, January 10. In addition, kerosene and gasoline are also set to go down by PHP 2.10 and PHP 0.75 per liter, respectively.

Expect some oil players to adjust prices as early as 12:01 AM tomorrow, but companies such as PetroGazz and Seaoil have already announced they are making their changes effective by 6:00 AM. Meanwhile, CleanFuel will adjust its prices at 8:01 AM tomorrow.

Tomorrow's rollback will be the first one for the year and end the three-week period where prices went up during the holiday season. The amount of rollback this week will undo the price increase on diesel imposed last January 3, but gasoline will only have a slight decrease compared to the PHP 2.90 price hike it received last week.

As crude oil prices continue to have their see-saw affair in 2023, it might not be such a bad idea to top-up for fuel whenever prices are lowered to maximize your savings.