OIL companies will roll back prices of their petroleum products effective today. Petron Corporation, Pilipinas Shell and Chevron Philippines will reduce prices of gasoline by P0.30, P0.40 for diesel and P0.35 for kerosene starting 6 a.m. today.
Independent oil firms PTT Philippines, Phoenix Philippines, Eastern Petroleum, Unioil, Seaoil, Petro Gazz and Flying V also announced the same price cuts.
Other oil companies are expected to follow the same price adjustments.
Energy sources said the latest price cuts reflect the movement of pump prices in the international market.