Oil Prices Set for Decrease in the Last Week of February

A rollback in pump prices is set for the last week of February with major oil companies like CleanFuel, Shell, and SeaOil announcing the news.

According to the industry leaders, impending adjustments on the prices were scheduled to take effect on Tuesday, February 27, 2024. Gasoline prices were said to have a substantial decrease of ₱0.95 per liter, kerosene by ₱1.10, while diesel prices are to have a drop of ₱0.70 for the same amount.

This gives relief to consumers grappling with recent fuel price hikes for the past two years. The increase in pump prices continued up until the previous week, with gasoline prices hiking by ₱1.60 per liter, kerosene rising by ₱1.05 per liter, and diesel prices by ₱1.10.

The adjustments coming from the major companies were set to take effect with the following schedule:

  • CleanFuel: 4:01 PM on Tuesday (February 27, 2024)
  • Shell: 6:00 AM on Tuesday (February 27, 2024)
  • SeaOil: 6:00 AM on Tuesday (February 27, 2024)

Other oil companies are still yet to announce their price adjustments, but with three leading brands applying the recent modification, this sets a potential respite for drivers for the time being.

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Ashley Cañete
Ashley Cañete

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