AFTER two consecutive weeks of big-time oil price hikes, local oil companies will implement a meager rollback of fuel prices effective Tuesday.

Major oil firms Petron Corporation and Pilipinas Shell, along with small firms Seaoil Philippines, and Flying V, announced on Monday they will cut diesel prices by P1.10 per liter, gasoline prices by P0.35 per liter, and kerosene by 0.45 per liter effective at 6 a.m. Tuesday, while Chevron Philippines will impose the same price adjustments much earlier at 12:01 a.m.

PTT Philippines, Phoenix Petroleum, Total Philippines, Petro Gazz, Unioil, and Jetti Oil also bared their respective pump price rollback of their gasoline and diesel products by uniform amounts, specifically P1.10 per liter on diesel and P0.35 centavos per liter on gasoline, except for kerosene which they do not carry, effective at 6 a.m. while Clean Fuel at 12:01 a.m. also on Tuesday.

PTT Communication Officer Jhay Julian said the small amount of oil price rollback reflects movements in the international oil market.

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Edd Reyes