MANILA – Oil firms will implement big-time price rollbacks for diesel and kerosene as well as less than 50 centavos price cut for gasoline starting this Tuesday.
In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Phoenix Petroleum, PTT, Seaoil and Shell said they will cut gasoline prices by PHP0.40 per liter and PHP2.15 per liter for diesel.
Caltex, Seaoil and Shell will also slash kerosene prices by PHP2.10 per liter.
Other oil players are expected to follow suit.
This is the fifth straight week that oil firms will reduce prices of diesel.
As of last week, net price increase for gasoline stood at PHP28.60 per liter since the start of the year; PHP43 per liter for diesel; and PHP36 per liter for kerosene.
Oil prices remain volatile as demand worries for petroleum products continue to rise amid coronavirus disease 2019 (Covid-19) outbreak in China, with its government maintaining its zero-Covid policy. (PNA)