LOCAL oil companies continue to carry out slight rollbacks on their respective fuel prices for fourth consecutive week.

Oil giants Petron Corporation, Pilipinas Shell, and Chevron Philippines said starting today, they will cut P0.10 per liter on prices of premium and unleaded gasoline, P0.20 on diesel, and P0.45 on kerosene.

Two other major oil firms, PTT Philippines and Total Philippines, along with independent oil companies Jetti Petroleum, Petro Gazz, Phoenix Petroleum, Unioil Philippines, and Eastern Petroleum, which do not sell kerosene, also announced the same price adjustments at 6:01 a.m. while Clean Fuel at 12:01 a.m.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) last week announced the possible slight rollback in prices of petroleum products following the weakening demand from China and the proposal of the Organization of the Petroleum Exporting Countries (OPEC)+ to increase their production to boost world market supplies.

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Edd Reyes