Oil firms cut pump prices by as much as P0.90 per liter effective 6 a2m.m. today (Tuesday) to reflect the movement of prices in the world oil market.
The oil companies—Petron, PTT Philippines, Seaoil Philippines, Cleanfuel, PetroGazz, Flying V and Chevron Philippines—slashed the price of kerosene by P0.90 per liter, gasoline by P0.80 per liter and diesel by P0.75 per liter.
This is the third weekly consecutive oil price rollback amid as the Delta variant continues to affect global economies.
Increase in COVID-19 cases in the US has dampened fuel demand and threatened recovery of the world’s biggest oil consumer.
Also cut pump prices while other oil companies are expected to follow suit.
Unioil Petroleum Philippines said over the weekend fuel prices will go down this week by P0.70 to P0.75 per liter for diesel and P0.90 to P1 per liter for gasoline.
These resulted in year-to-date adjustments to stand at a net increase of P10.10 per liter for diesel and P8.30 per liter for kerosene.
