OIL COMPANIES are rolling back the cost of petroleum products this week, although at a rate lower than the price increases in recent weeks. Gasoline and diesel products will both be cheaper by P0.10/L, while kerosene prices will be lower by P0.25/L. Seaoil Philippines, Inc. will be among the first to cut prices at 12:01 a.m. on Tuesday, Aug. 7, while most other companies will be reducing prices at 6:00 a.m. The reduction this week follows last month’s almost weekly price increases, which peaked at P1.15/L for gasoline last Tuesday. Diesel and kerosene per liter prices also rose significantly last week at P0.95 and P0.85, respectively.
Meanwhile, Petron Corp. said it is now accepting the Pantawid Pasada Card distributed by the Transportation and Energy departments in 740 service stations nationwide. It said the stations are marked with a Pantawid Pasada Program signage and are along high-traffic public utility jeepney transport routes. — Victor V. Saulon