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Oil firms bare price rollback

MAJOR and independent oil firms announced a price rollback on diesel and kerosene products effective Tuesday.

Petron Corporation and Pilipinas Shell in separate advisories said a rollback of P0.25 per liter on diesel and P0.15 on kerosens will be implemented at 6 a.m. Tuesday while no movement of prices for gasoline products.

Chevron Philippines, another major oil company, also announced the same price adjustments on their diesel and kerosene products to be implemented much earlier at around 12:01 a.m. today.

Thai-led PTT Philippines, Seaoil Philippines, Unioil, Phoenix Petropleum, Total Philippines, Petro Gazz and Flying V will also roll back the prices of their diesel products by P0.25 at 6 a.m. Tuesday while Clean Fuel at 8:01 a.m.

PTT Philippines communication officer Jhay Julian said the latest price adjustment reflect movements in the international oil market. Edd Reyes