MANILA, PHILIPPINES – With another massive increase in petroleum product pump prices expected next week, fuel company Petro Gazz on Wednesday announced it will be slashing prices of its fuel products from Thursday, March 10 (starting at 6 a.m.) to Sunday, March 13.
The company said the move aims to “minimize the impact” of rising oil prices on customers.
The rollback will be as follows:
Fuel prices continued to soar for the 10th straight week, with the massive adjustments prompting groups to call for higher fares and subsidy for affected sectors.
An oil industry source told GMA News Online that the price of diesel per liter may rise by P12.72 per liter based on monitoring of oil trading as of March 7 based on the Mean of Platts Singapore.
Meanwhile, gasoline prices are expected to rise by P8.28 per liter.
On Tuesday, March 8, oil companies imposed the largest price increase on petroleum products this year, marking the 10th week of price increases since the beginning of the year.
Diesel prices were raised by P5.85 per liter, gasoline by P3.60 per liter, and kerosene by P4.10 per liter.
Year-to-date adjustments stand at P11.65 per liter for diesel, P9.65 per liter for gasoline, and P10.30 per liter for kerosene.
*With reports from GMA News.