Oil companies are rolling back the prices of petroleum products this week, with kerosene having the biggest price cut at P1.25 per liter.
Diesel prices will be down by P1.00 per liter, while gasoline will decrease by P0.70 per liter. Most of the companies that have sent their price adjustment advisories as of Monday afternoon will be implementing the price changes at 6:00 a.m. on Tuesday, July 24.
Unioil Petroleum Philippines, Inc. said it was cutting prices as early 2:00 p.m. on Monday. Seaoil Philippines, Inc. will adjust prices at 12:01 a.m. on Tuesday.
Last week, oil companies raised the price of gasoline by P0.30 per liter, while cutting the price of diesel by P0.15 per liter. Kerosene was unchanged last week. — Victor V. Saulon