EFFECTIVE Tuesday, big and small oil firms will implement another round of big-time price rollback, marking the companies’ 3rd straight week of the pump price cut.
Chevron Philippines, in its advisory, bared that they would reduce their pump prices of gasoline products by P5.00 per liter, diesel by P2.00 per liter, and kerosene by P0.70 centavos per liter at 12:01 a.m. on Tuesday.
Petron Corporation and Pilipinas Shell, along with Seaoil Philippines, also announced their respective pump price adjustments in uniform amounts, specifically P5.00 per liter on gasoline, P2.00 per liter on diesel, and P0.70 centavos per liter on kerosene at 6:00 a.m. Tuesday.
PTT Philippines, Petro Gazz, Unioil Philippines, Total Philippines, Phoenix Petroleum, and Jetti Oil also announced the same big-time price rollback on their gasoline and diesel products at 6:00 a.m. Tuesday, excluding kerosene which they do not carry, while changes in pump prices of Clean Fuel will take effect at 8:01 a.m.
In an earlier report, the lockdown in Shanghai, China, the interest hikes by various countries, and the threat of recession were reasons for the big-time price rollback.