Another price rollback is set – gasoline to be decreased by Php 0.20 per liter, diesel by Php 1.80 per liter, and kerosene by Php 2.15 per liter. It has been said that US oil prices traded in the negative territory as of last week.
Flyin V, Petro Gas, Phoenix Petroleum Philippines, Inc., Pilipinas Shell Petroleum Corp., PTT Philippines Inc., and Seaoil Philippines have announcement price adjustments to take effect at 6am today (April 28). Meanwhile, Cleanfuel will implement the same on gasoline and diesel at 8am today (April 28).
In an article by Philippine Star, it has been revealed by Reuters that US oil prices traded in the negative territory for the first time as the pandemic continued to induce a supply glut globally. Read more: Oil prices down again