PRICES of fuel have dropped for the eighth consecutive week, with local oil firms across the country implementing a P2.00 rollback in petroleum products.

Phoenix Petroleum Philippines led the rollback on Saturday, December 1, with P2.00 per liter off its gasoline and kerosene products.

SeaOil is also adjusting its pump prices per liter with P2.00 off for gasoline, P2.10 off for diesel, and P2.00 off for kerosene on Monday, December 3.

PTT Philippines, Pilipinas Shell, and CPI (Caltex) will also reduce their prices starting Tuesday, December 4.

PTT Philippines will decrease prices of gasoline by P2.00 per liter and P2.10 per liter for diesel.

Pilipinas Shell will implement a P2.00 per liter rollback for gasoline. A reduction of P2.10 per liter and P2.00 per liter will also be reduced for diesel and kerosene.

CPI (Caltex) will also decrease its prices of Platinum and Silver gasoline by P2 per liter, kerosene by P2.00 per liter, and Diesel by 2.10 per liter.

Households can also enjoy the bigtime rollback on Liquified Petroleum Gas (LPG) prices.

On Saturday, December 1, Petron reduced the prices of Gasul and Fiesta Gas by P6.40 per kilogram, while Solane slashed P6.36 per kilogram off its LPG price.

The Department of Energy said the softening of oil prices was due to the oversupply of crude in the world market. (JGS)