Oil price rollback set this week
LOCAL oil companies will implement price rollback of diesel and kerosene products despite the continued weakening of the peso against the US dollar.
Major oil firm Chevron Philippines bared that effective at 12:01 a.m. Tuesday, prices of their diesel products will decrease by P3.00 per liter, kerosene by P3.40 per liter, while there is no movement in prices of gasoline.
Two other major oil firms, Petron Corporation and Pilipinas Shell, along with independent oil companies Seaoil Philippines and Flying V, also announced the same price rollback on diesel and kerosene, which will take effect at 6:00 a.m. Tuesday.
Thai-led PTT Philippines, Total Philippines, Phoenix Petroleum, PetroGazz, and Unioil Philippines, which do not sell kerosene, also announced the same uniform price rollback on their diesel products and no movement of gasoline price, also at 6:00 a.m. while Clean Fuel will impose the same price adjustment at 8:01 a.m. Tuesday.
Oil industry sources said this week’s local pump price adjustment reflects movements in the international oil market.
