Oil companies hike, roll back fuel prices
Oil companies on Tuesday morning hiked prices of unleaded and premium fuel products but rolled back prices of regular gas, citing oil price changes in the world market.
Petron said on its Twitter account it is implementing the price adjustments at 6 a.m. to reflect "movements in the international oil market."
It said it was rolling back prices of regular gasoline by 35 centavos per liter, but increasing prices of premium gas and kerosene by 20 centavos per liter.
"No adjustment for diesel. This reflects movements in the international oil market," it said.
A report on dzBB radio said Shell implemented a similar price adjustment also at 6 a.m., with the 20-centavo increase also applying to unleaded gas.
The dzBB report said Flying V will implement a similar price adjustment but at 12:01 a.m. Wednesday.
It was the fourth week that oil firms increased prices of some fuel products.
Since early this month, oil firms had implemented price hikes, ending 12 weeks of rolling back prices of their products.
The rollbacks since April had been enough to prompt a rollback as well in passenger jeep fares, from P8 to P7.50. –KG, GMA News