Oil firms announced Monday a price rollback to be implemented starting Tuesday.
They said in separate advisories that gasoline prices will go down by P0.45 per liter, diesel by P1.10 per liter, and kerosene by P1.05 per liter.
Petron, Shell, Caltex, Total, Seaoil, Unioil, PTT, Phoenix and Jetti said they would adjust their pump prices at 6 a.m. today, November 7. Cleanfuel, meanwhile, will reduce its prices at 12:01 a.m.
“These reflect movements in the world oil market,” they said separately.
Last week, oil companies implemented a mixed adjustment on the price of petroleum products. The price of kerosene and diesel has dropped by P1.20 and P1.25 per liter, respectively. On the other hand, the price of gasoline increased by P0.45 per liter.
These price adjustments resulted in a year-to-date net increase of P14.20/liter for gasoline, P10.45/liter for diesel and P5.04/liter for kerosene.
Oil firms adjust their prices every week.
Image credits: Nonie Reyes