After three consecutive weeks of oil price increases, oil companies announced on Monday they will implement a price rollback effective on Tuesday morning.
In separate announcements, the oil firms said gasoline prices will go down by P0.40 per liter, while the price of diesel will be reduced by P0.30 per liter.
PTT Philippines, Eastern Petroleum and Phoenix Petroluem said they will implement the price adjustment at 6 a.m. of April 10, Tuesday.
Seaoil and Pilipinas Shell will also adjust their prices. At the same time, they said, the price of kerosene remain unchanged.
“Movements reflect the international petroleum market,” they said.
Other oil firms will follow suit.
On April 3, the price of gasoline went up by P0.90 per liter and P1 per liter for diesel and kerosene, respectively.
On March 27, oil prices went up by P1.15 per liter for gasoline, P1.10 per liter for diesel and P1 per liter for kerosene. The week before March 27, oil firms implemented another price hike of P0.40 per liter for diesel but reduced the price of kerosene by P0.55 per liter.