Another oil price rollback
LOCAL oil companies announced another rollback on their respective fuel prices marking the 3rd weeks price reduction effective Tuesday.
Thai-led PTT Philippines, Petro Gazz, Total Philippines, Unioil Philippines and Eastern Petroleum implemented a price cut of their gasoline products by P0.80 centavos per liter and diesel by P0.75 centavos per liter effective at 6 a.m. while Clean Fuel imposed the same price adjustment at 8 a.m. Tuesday.
Earlier at 12:01 a.m., Chevron Philippines also imposed the same price adjustments of its gasoline and diesel products, along with two other major firms, Petron Corporation and Pilipinas Shell which took effect at 6 a.m., Tuesday.
Big oil firms, along with Phoenix Petroleum and Flying V also implemented a price rollback of their kerosene products by P0.90 centavos per liter.
Energy sources said the price adjustment being carried out by local oil companies mainly reflect movements in the international oil market.
