Oil price rollback for 4th consecutive week

OIL companies announced that there will be a price rollback for the fourth consecutive week of various petroleum products this week.

Phoenix Petroleum Philippines kicked off the rollback last Sunday, November 4, with P1 per liter off their diesel products and P1.10 per liter for gasoline.

SeaOil also adjusted its pump prices per liter with P1.10 off for gasoline, P1 off for diesel and P0.65 for kerosene on November 5.

Pilipinas Shell, PTT Philippines, CPI (Caltex), TOTAL will also reduce their prices starting November 6, 2018.

Pilipinas Shell will implement a P1 per liter rollback for gasoline. A reduction of P0.90 per liter and P0.65 per liter will also be reduced for diesel and kerosene.

PTT Philippines and TOTAL will decrease prices of gasoline by P1 per liter and P0.90 per liter for diesel.

CPI (Caltex) will also decrease its prices of Platinum and Silver by P1 per liter, kerosene by P0.65 per liter and Diesel by 0.90 per liter.

Majority of the price cut was due to the softening of petroleum prices in the world market. (JGS)