EFFECTIVE 6 a.m. on Tuesday, Mar. 17, Petron will implement a rollback in prices of P4.00/liter for gasoline; P4.00/liter for diesel and P4.50/liter for kerosene.
“These reflect movements in the international oil market,” Petron said.
Other fuel companies earlier implemented a rollback in the prices of their diesel and gasoline products.
The big-time rollback came as tension escalated between Russia and Saudi Arabia. Russia refused production cuts which resulted in Saudi Arabia’s move to cut its oil prices at the same time increasing its production.
These moves would result in more supplies against dwindling demand for oil as travels are restricted with fewer and fewer people moving around.
Oil prices slid further after the announcement of US President Donald Trump to restrict travel from part of Europe to the United States. (GMA News)
