AFTER 11 consecutive weeks of oil price increases, big ang small oil companies will implement today a meager price rollback.

Giant oil firms Petron Corporation and Pilipinas Shell, along with small oil players Seaoil Philippines and Flying V announced a small price cut of their gasoline and diesel products by P0.20 per liter and P0.50 on kerosene, effective at 6 a.m. today.

Chevron Philippines, another major oil firm, announced on Monday that they will reduce the prices of their gasoline, diesel and kerosene products by the same amount at 12:01 a.m. while Clean Fuel, which do not sell kerosene, will implement the same meager price rollback on its diesel and gasoline products, also at 12:01 a.m. Tuesday.

Independent oil firms PTT Philippines Phoenix Petroleum, Total Philippines, Petro Gazz, Unioil Philippines and Eastern Petroleum, which also do not carry kerosene, announced that they would cut the prices of their gasoline and diesel products by a uniform amount of P0.20 per liter at 6 a.m.

PTT Communication Officer Jay Julian said the meager price rollback on domestic oil products reflect movements in the international oil market.

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Edd Reyes