LOCAL oil firms announced a big-time oil price cut, marking the second straight week of rollbacks for gasoline and kerosene, effective today, Holy Tuesday.

Petron Corporation, Pilipinas Shell, Chevron Philippines, Seaoil Philippines and Flying V, announced a price rollback of gasoline by P3.60 per liter, diesel by P2.90 per liter and kerosene by P3.30 per liter which will take effect at 6:01 a.m.

Two other oil giants, PTT Philippines and Total Philippines which do not carry kerosene also announced the same price rollback on gasoline and diesel effective at 6 a.m. while independent oil firm Clean Fuel will implement the same price adjustments at 8:01 a.m.

Other independent oil companies that do not typically sell kerosene such as Petro Gazz, Unioil, Phoenix Petroleum, and Eastern Petroleum, will implement the same price rollback of their diesel and gasoline at 6:01 a.m.

PTT Philippines Media Relation Officer Jay Julian said the price adjustments this week reflect movements in the international benchmark of oil prices.

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Edd Reyes