Oil firms roll back prices of gasoline

Several oil firms on Tuesday rolled back prices of gasoline but left diesel prices unchanged. Diesel is the fuel most used by public utility vehicles such as jeeps and buses. 

 

Petron said in an advisory it brought down prices of unleaded and premium gasoline  effective 12:01 a.m. Tuesday. “This reflects movements in the international oil market,” said Petron.

 

Petron rolled back prices by:

 

- 90 centavos per liter for premium and unleaded gas

- 20 centavos per liter for regular gasoline

 

Seaoil also implemented a similar rollback, spokesperson Abigail Ho said in an interview on dzBB radio. Chevron and Eastern Petroleum implemented similar rollbacks as well.

 

A separate report by dzBB’s Mao dela Cruz said Unioil is rolling back prices of premium and unleaded gas by P1 per liter also effective 12:01 a.m. 

 

Earlier, the Department of Energy cited the possibility of a rollback due to last week’s decrease in world oil prices.

 

DOE Oil Industry Management Bureau director Zenaida Monsada was quoted in a dzBB report as saying that at the very least, there would be no price adjustments this week.

  

Last week, oil companies rolled back prices of premium and unleaded gasoline by 45 centavos per liter, but increased prices of diesel by 75 centavos per liter.

 

They also hiked prices of kerosene by 60 centavos per liter.

 

Last week's price adjustments came amid plans by some transport groups to seek a fare hike for jeepneys, from the present P8 to P10, due to high costs of fuel and spare parts. — DVM, GMA News