Pump price rollback set Tuesday after two straight weeks of increases

Motorists will have a slight reprieve this week, as oil firms announced a rollback after two straight weeks of major price hikes.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. said they will cut down the price per liter of gasoline by P0.35, diesel by P1.10, and kerosene by P0.45.

Cleanfuel, Phoenix Petroleum Philippines Inc., Petro Gazz, PTT Philippines Corp., and Unioil Petroleum Philippines Inc. will implement the same changes, excluding kerosene, which they do not carry.

The adjustments will take effect at 6 a.m. on Tuesday, October 25 for all the firms except for Caltex and Cleanfuel, which will implement the changes at 12:01 a.m. the same day.

Other firms have yet to make similar announcements for the week.

The latest rollback comes after two straight weeks of increases, as companies increased prices per liter of gasoline by P.0.80, diesel by P2.70, and kerosene by P2.90 last week.

Latest data available from the Department of Energy (DOE) show that year-to-date total adjustments stood at a net increase of P16.45 per liter for gasoline, P38.50 per liter for diesel, and P29.65 per liter for kerosene. —Jon Viktor D. Cabuenas/KBK/BM, GMA News