Oil companies imposed a P0.10 per liter rollback in prices of gasoline and diesel effective today (August 7).
These are Caltex, Shell, Petron, Flying V, and Seaoil.
Meanwhile, the price of kerosene in the said companies increased by P0.25 per liter.
PTT Philippines, Total, Phoenix Petroleum, Jetti, and Unioil also imposed a P0.10 per liter price reduction for gasoline and diesel but made no adjustment on the price of kerosene. – UNTV News and Rescue
Oil companies are set to implement an oil price rollback starting next week.
According to industry players, there will be a possible P1.20 per liter rollback in diesel prices while P0.50 per liter rollback in gasoline prices.
The rollback is due to the fuel price movement in the world market.
Meanwhile, on Wednesday (Aug 7) prices of auto LPG also dropped by P1.00 per liter.—AAC (with reports from Mon Jocson)
Local prices of gasoline, diesel and kerosene will be slashed this week.
In separate advisories, oil firms SEAOIL and Pilipinas Shell Petroleum said they will rollback the prices of gasoline by P0.25 a liter, and kerosene by P0.40.
Petro Gazz will also implement the same price adjustment sans kerosene.
Oil companies are set to impose the price rollback on Tuesday (July 23) at 6 a.m. Other oil companies have yet to announce price adjustments for this week.
The looming price cut comes after four consecutive weeks of pump price hikes.
Oil companies are set to implement a hefty rollback in local prices of petroleum products this week.
In separate advisories, oil firms announced that the price of gasoline will drop by P2.45 per liter, diesel by P2.70, and kerosene by P2.60 a liter.
The fuel price adjustment will take effect on Tuesday, June 11.
The price rollback comes after global oil prices slipped to their January lows due to surging supply in the market and the possibility of slowing demand.
This is the third straight week that oil prices will go down as oil-producing countries continue to cut back on supply.
