AFTER weeks of escalating pump prices, oil companies implemented rollbacks on Monday to reflect the downtrend in world market prices.
Chevron Philippines Corp., Petron Corp., and Pilipinas Shell Petroleum Corp. reduced diesel and kerosene prices by seventy-five centavos and gasoline by fifty centavos per liter.
Last June 29, major oil players Chevron, Petron, and independent oil firms Phoenix Petroleum Philippines and Seaoil Philippines increased oil prices.
Fil Oil Flying V led the series of rollback last Saturday when it cut prices for its biodiesel and kerosene products by P.75 per kilogram and gasoline products by P.50 per kilogram.
Based on the monitoring of the Department of Energy (DOE), current prices of unleaded gasoline range between P41.20 and P43.50 per liter.
Diesel prices, on the other hand, range from P32.40 to P34.60 per liter while kerosene prices range from P30.28 to P44.80.
As of last week, international prices of Dubai Crude stood at $73 per barrel. International price of unleaded gasoline was at $82 per barrel while diesel price was at $85 per barrel. (Virgil Lopez/Sunnex)