Filipino oil firms implement a fuel price rollback due to OPEC+ extending production cuts.
Oil firms in the Philippines implement a fuel price rollback, decreasing gasoline, diesel, and kerosene prices by P0.60, P1.20, and P1.30 per liter, respectively. This follows the OPEC+ decision to extend voluntary production cuts until the end of 2024, putting pressure on fuel prices. The Department of Energy reported that the total adjustment for gasoline and diesel stands at net increases of P6.65 and P5.45 per liter, respectively.
June 10, 2024
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