Oil companies announced yesterday price rollbacks on their petroleum products.
First to announce the rollback were Flying V Philippines and Eastern Petroleum, that bared price cuts of P1.50 per liter on their gasoline and P1.50 per liter on biodiesel products that would take effect at 12:01 a.m. today.
In a separate advisory, Petron Corp., Chevron Philippines, Pilipinas Shell, and Seaoil Philippines, will implement price cuts of P1.05 per liter for all gasoline products; diesel by P1.65 per liter; and P1.60 for their kerosene products also effective at 12:01 a.m. also today.
Petron said the price tweak “reflects movements in the international oil market”.
The rollback on pump prices is the fourth this month.
On April 12, oil companies implemented rate cuts on their petroleum products.*PNA