Oil price cuts set this week
LOCAL oil companies will implement a price rollback of their petroleum products effective Tuesday, February 28, 2023, a week after they jack up their respective pump prices.
Chevron Philippines, one of the “Big Three” local oil firms, announced a price cut of diesel products by P1.30 per liter, gasoline by P0.70 centavos per liter, and kerosene by P1.80 per liter effective at 12:01 a.m. Tuesday.
Two other major oil firms, Petron Corporation, and Pilipinas Shell, along with independent oil companies Jetti Petroleum, Flying V, and Seaoil Philippines, also announced the same level of price rollback on their petroleum products effective at 6 a.m., Tuesday.
Thai-led PTT Philippines and other independent oil companies which do not sell kerosene, such as Petro Gazz, Unioil Philippines, Total Philippines, and Eastern Petroleum, also announced the price rollback of their gasoline products by P0.70 centavos per liter and diesel by P1.30 per liter at 6 a.m. while Clean Fuel at 12 noon on Tuesday.
PTT Communication Officer Jay Julian said the pump price rollback reflects movements in the international oil market.
