(Eagle News) – While gasoline stations implemented a huge price increase on its products on Tuesday, March 8, one gasoline retailer company did the opposite after two days – a price slash effective 6 a.m. today, March 10.
Petro Gazz Philippines implemented a huge oil price rollback of P5.85 per liter for diesel, and P3.60 per liter for gasoline on Thursday, March 10, which would be effective until Sunday, March 13.
The amount is the same price adjustment that various gasoline stations implemented as their increase in gasoline and diesel products.
“Petro Gazz will implement PRICE ADJUSTMENTS on fuel products effective 6:00 a.m., March 10 to 13, 2022. Keep safe everyone,” Petro Gazz said on its Facebook page, announcing the rollback.
The company will be implementing this rollback in all its 190 gasoline stations nationwide, according to its management.
This is to “minimize the impact to motorists since we are expecting another round of oil price hike next week,” according to Petro Gazz.
The company has also been aggressively expanding its presence nationwide –“looking for location sites for lease and potential dealers” since April last year.
The decision to decrease pump prices from March 10 to 13 for Petro Gazz is part of the company’s commitment to help motorists, who have been feeling the impact of successive oil price hikes due to the increasing and continuing tensions between Russia and Ukraine, it said.
Russia is one of the biggest producers of crude oil in the world. It provides roughly 10 percent of the global oil supplies,
A previous announcement from Shell said that there could be another round of price increases in oil products next week, by as much as P12 per liter for diesel and around P8 per liter for gasoline.
(Eagle News Service)
