Oil firms roll back fuel prices Sunday

AFP PHOTO

MANILA, Philippines – Local oil companies have slashed prices of petroleum products starting Sunday to reflect significant movements in the global oil market.

Petron Corp., Seaoil Philippines, Pilipinas Shell Petroleum Corp., Chevron Philippines and Total Philippines have cut prices of premium gasoline by P1.50 a liter, of regular gasoline by 70 centavos a liter and of kerosene by 50 centavos a liter.

Diesel prices were also slashed by 15 centavos to 25 centavos a liter.

Meanwhile, Eastern Petroleum implemented a price rollback of P1.40 a liter for premium gasoline, 70 centavos a liter for regular gasoline, and 25 centavos  a liter for diesel, effective today (Monday).

The price rollback this week, according to Eastern, was partially aided by the slight appreciation of the peso against dollar.