Gasoline prices down, diesel prices up starting May 31

By VJ Bacungan, for Automart.PH

METRO MANILA, – Owners of gasoline cars can breathe a sigh of relief as the price of unleaded fuel is expected to go down on May 31, 2022.

In a May 30, 2022 Facebook post, Cleanfuel said it will implement a rollback of P1.70 per liter by 8:01 a.m. tomorrow.

Meanwhile, Unioil said in a May 30, 2022 Facebook post that it will also lower prices of unleaded by P1.70 per liter by 6 a.m. tomorrow.

Both companies added that they will implement an increase of P1.20 per liter for diesel.

Oil prices worldwide have jumped significantly since Russia initiated a military invasion of Ukraine in February 2022.

Russia holds a 12-percent share of the global oil market, exporting up to 6.5 million barrels per day, according to a March 2022 report by multinational bank JPMorgan Chase & Co.