Rollback: Gas, diesel to go down PHP 0.25, PHP 0.60

We have some good news for motorists that have been waiting for a price rollback on All Saints’ Day. Oil players have just announced that both gasoline and diesel prices will go down starting tomorrow, November 1, 2022.

Motorists, however, might be disappointed with the price decrease set for tomorrow. Based on price adjustments, the price of gasoline and diesel will go down PHP 0.25 per liter and PHP 0.60 per liter respectively. Also receiving a minor cut in price is kerosene which will be cheaper by PHP 0.25 per liter.

Companies such as Caltex, Cleanfuel, PetroGazz, Shell, and Seaoil have already announced they will be rolling back prices tomorrow. Cleanfuel and Caltex will decrease pump prices starting at 12:01 AM while Shell, Seaoil, and PetroGazz will only make price adjustments at 6:00 AM.

While most motorists might find the lowering of pump prices this week as dismal, it’s still a rollback nonetheless. But with OPEC+ set to decrease oil production by 2 million barrels per day come November, there’s still the possibility of fuel prices going up (significantly) once more.

If you still have some fuel left in your vehicle and want to take advantage of the rollback, better wait until tomorrow for the scheduled price adjustments.