Cleanfuel price rollback was implemented early by the independent oil company ahead of the customary Tuesday schedule on November 6, reducing diesel by PHP1.50 per liter and gasoline by PHP4.00 per liter. Driven by softening international petroleum prices and easing Middle East supply concerns due to potential US-Iran diplomacy, CEO Atty. Jesus “Bong” Suntay stated the move aims to ease economic pressures on Filipino motorists and businesses. A second reduction is also being evaluated for November 9.
Ryl D.– Lifestyle On Wheels
CLEANFUEL TO CUT PUMP PRICES AHEAD OF INDUSTRY SCHEDULE AS OIL MARKET SOFTENS
OFFICIAL RELEASE: Cleanfuel | PUBLISHER: ADVAI
Initial rollback of PHP1.50 per liter for diesel and PHP4.00 per liter for gasoline takes effect at 12:01 AM on November 6.
Independent oil company Cleanfuel will reduce pump prices effective 12:01 AM on Friday, November 6, cutting diesel by PHP1.50 per liter and gasoline by PHP4.00 per liter ahead of the industry’s customary Tuesday price adjustment schedule.
The move comes as international petroleum prices continue to soften, providing an opportunity for the company to extend immediate relief to motorists and businesses facing sustained pressure on household budgets and operating expenses.
The November 6 adjustment represents the first tranche of Cleanfuel’s planned fuel price rollback, with a second reduction being considered for Monday, November 9. The amount of the succeeding adjustment
will be determined following the close of Friday’s Mean of Platts Singapore (MOPS) trading, completing the planned rollback ahead of the regular Tuesday pricing cycle, subject to final market figures.
Global oil prices have declined amid improving prospects for diplomatic progress between the United States and Iran, easing concerns over potential supply disruptions in the Middle East. The shift in market sentiment has placed downward pressure on crude prices and influenced
expectations in regional petroleum markets. Cleanfuel President and Chief Executive Officer Atty. Jesus “Bong” Suntay said the decision to implement the rollback ahead of schedule takes into account the economic pressures confronting Filipino motorists.
“With the peso under pressure and the rising cost of everyday essentials weighing on household budgets, we recognize how difficult it has become for many motorists to manage their daily expenses. When market conditions allow us to lower fuel prices, we believe consumers should benefit without unnecessary delay,” Suntay said.
He noted that the timing of price adjustments is particularly important for transport operators and businesses with substantial fuel requirements.
“For those who rely on fuel to earn a living or keep their businesses running, every reduction counts. Our priority is to respond promptly to favorable market developments while maintaining competitive and
responsible pricing,” he added.Despite the recent decline, international petroleum markets remain sensitive to geopolitical developments and uncertainties surrounding regional supply conditions.
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