OIL firms will implement nearly P4 per liter of rollback in diesel.
They said Monday that diesel prices will be reduced by P3.95 per liter, effective Tuesday morning. The price of kerosene and gasoline will also go down by P2.65 per liter and P0.85 per liter, respectively. Most oil firm announced the price rollback to take effect at 6 a.m. on November 29. Cleanfuel, meanwhile, will implement the price adjustment at 12:01 am.
Last week, oil companies implemented a per liter decrease in gasoline price by P0.40, diesel by P2.15 and kerosene by P2.10. These resulted to the year-to-date total adjustments to stand at a net increase of P17.75/liter for gasoline, P33.85/liter for diesel, and P27.85/liter for kerosene.
Oil firms adjust prices every week to reflect movements in the world oil market.
Image credits: Roy Domingo