MANILA – Local oil firms are set to roll back the pump prices of petroleum products starting today, Tuesday, following four consecutive weeks of hikes.
In separate advisories, Pilipinas Shell Petroleum Corp. and SEAOIL Philippines Inc. said they will reduce prices per liter of gasoline by P0.60, diesel by P0.35, and kerosene by P0.20.
Petro Gazz will implement the same adjustments, excluding kerosene.
The changes will take effect 6:00 a.m. on Monday, February 4, for Petro Gazz, while the rest of the firms will implement the changes 6:00 a.m. on Tuesday, February 5.
According to the latest data available from the Department of Energy (DOE), gasoline prices range from P41.45 to P55.80 per liter, diesel from P36.35 to P43.98, and kerosene from P40.62 to P50.90.
Oil industry experts earlier said they expected a price rollback this week. (GMA News)
