Huge rollback for gasoline and diesel on July 12

By VJ Bacungan, for Automart.PH

METRO MANILA, July 11, 2022 – After last week’s oil price cut, vehicle owners will get another big rollback for gasoline and diesel on July 12, 2022.

Cleanfuel announced in a July 11, 2022 Facebook post that it will slash the price of diesel by P6.10 a liter tomorrow morning.

This follows the P3.00 a liter rollback for diesel implemented on July 5, 2022.

Meanwhile, the firm announced that it will reduce the price of unleaded by P5.70 a liter. This comes after oil companies did not make any price changes last week.

The Department of Energy said low global demand for oil caused the price drop, which it attributed to interest-rate hikes in the U.S. and the U.K., a looming global recession and continued lockdowns in Shanghai, a major financial hub in China.