Companies to implement big-time oil price rollback

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Oil companies have started to implement a price rollback after a series of price hikes.

Phoenix Petroleum Inc., Unioil Petroleum Inc., Jetti Petroleum Inc., Seaoil Philippines Inc., and Petro Gazz have already cut the price of their gasoline by Php 2 per liter, and diesel by Php 0.90 on Sunday, October 21.

While, Total, Caltex Philippines, PTT Philippines, Shell Philippines, and Petron Corporation will deduct Php 1.85 in every liter of gasoline, and Php 0.90 in every liter of diesel and kerosene starting October 22, Monday.

Movements in the international oil market caused the price adjustments in petroleum products.

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