Oil price rollback
FOLLOWING two straight weeks of fuel price hikes, oil companies will implement a uniformed pump price rollback effective today.
Chevron Philippines announced that effective 12:01 a.m. Tuesday, the company will rollback P.65 on diesel prices, P0.20 for gasoline and P0.85 on kerosene while Petron Philippines and Pilipinas Shell will implement the same price adjustments effective at 6 a.m.
Independent players PTT Philippines, Total Philippines, Unioil, Petro Gazz and Phoenix Petroleum announced the same price cuts starting 6 a.m. while Clean Fuel at 8:01 a.m.
Other small petroleum companies have yet to announce price cuts but energy sources said they will implement the same price adjustments.
PTT Philippines Communication Officer Jhay Julian said the fuel price rollback mainly reflects movements in the international oil market.
