Motorists are getting a break as oil firms announced price rollbacks following the May 12 elections. Independent oil company Seaoil is also offering a one-day special discount for those who voted.
Seaoil launched its “Ink for Fuel” promo today, offering ₱4 off per liter of gasoline and ₱2 off per liter of diesel to voters who present their indelible ink mark.
Regular price rollbacks are also set for Tuesday, May 13. Starting 6:00 a.m., Shell, Caltex, and Seaoil will reduce gasoline prices by ₱0.30 per liter, diesel by ₱0.90 per liter, and kerosene by ₱1.25 per liter. PetroGazz and Jetti will also cut gasoline by ₱0.30 and diesel by ₱0.90 per liter. Cleanfuel’s price changes will take effect at 8:01 a.m. with the same reductions.
The Department of Energy said the drop in prices was due to increased oil production by OPEC+ members and uncertainty in U.S.-China trade talks, both of which are affecting global oil markets.
