Oil firms are set to implement a big-time rollback in the pump prices of petroleum products on Tuesday, to mark the fifth straight week of price cuts.
In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Inc. said they will roll back the prices per liter of gasoline by P2.40, diesel by P2.65, and kerosene by P2.70.
Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., PTT Philippines Corp., and Unioil Petroleum Philippines Inc. will implement the same price adjustments, excluding kerosene, which they do not carry.
The changes will take effect at 6 a.m. on Tuesday, December 7, except for Cleanfuel which will adjust prices at 8:01 a.m. and Caltex at 12:01 a.m. the same day.
Other firms have yet to make similar announcements.
Latest data available from the Department of Energy (DOE) show that year-to-date adjustments stand at a net increase of P18.10 per liter for gasoline, P15.70 per liter for diesel, and P13.19 per liter for kerosene as of November 30, 2021. — RSJ/BM, GMA News