Oil companies to lower gasoline, diesel prices for 2nd weekly rollback

Oil companies are lowering pump prices of petroleum products for the second consecutive weekly rollback starting Tuesday.

In separate advisories, Petro Gazz, Petron, Phoenix Petroleum Philippines, Pilipinas Shell Petroleum, PTT Philippines, SEAOIL Philippines, and TOTAL Philippines said they are lowering the prices per liter of gasoline by P0.45 and diesel by P0.10.

The changes will take effect at 6:00 a.m. on Tuesday, October 29. Other oil companies have yet to announce any adjustment for the week.

Recent data from the Department of Energy indicated that as of October 15, the year-to-date adjustments have boiled down to a net increase of P5.86 per liter for gasoline, P4.12 for diesel, and P1.21 for kerosene. —Jon Viktor Cabuenas/VDS/BM, GMA News