Diesel Prices Slashed By P6.10 Per Liter in Big-Time Rollback

Diesel and gasoline prices will be slashed in a big-time rollback starting July 12, oil company Cleanfuel said Monday.

Starting 8:01 a.m. Tuesday, diesel prices will decrease by P6.10 per liter, while gasoline prices will go down by P5.70 per liter, the fuel company said.

READ: Marcos Prefers Ayuda Over Fuel Excise Tax Suspension

Fuel rollbacks are due to low global demand caused by the lockdown in Shanghai, interest hikes in several countries, and threat of recession which could cause demand destruction, Department of Energy-Oil Industry Management Bureau Director Rino Abad told reporters.

Here are the fuel price rollbacks set for July 12, 2022:

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