OIL companies announced their second wave of fuel price cuts, the third this year, effective today.

Major oil firm Chevron Philippines was first to announce the rollback of diesel prices by P0.35 per liter, gasoline by P1 per liter and kerosene by P3 per liter starting 12:01 a.m. today while Petron Philippines, Pilipinas Shell and independent oil firms Seaoil and Flying V will impose the same price adjustments at 6 a.m.

Thai-led PTT Philippines, Total Philippines, Phoenix Petroleum, PetroGazz, Unioil Philippines and Jetti Oil will also reduce prices of their gasoline and diesel products by the same amount, starting 6 a.m. while Clean Fuel at 8:01 a.m.

PTT Philippines Communications Officer Jhay Julian said the slight downfall in domestic pump prices reflect movements in the international oil market.

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Edd Reyes