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Oil price rollback set

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Oil companies announced a decrease of up to P1.10 per liter in the pump prices of petroleum products effective Tuesday.

In separate advisories yesterday, Cleanfuel, Caltex, Jetti, Petro Gazz, PTT, Seaoil and Shell announced they will cut gasoline prices by P0.45 per liter and P1.10 per liter for diesel prices.

Caltex, Seaoil and Shell will also slash kerosene prices by P1.05 per liter.

Other oil firms are expected to follow suit.

Last week, local oil players adjusted upward gasoline prices while slashing diesel and kerosene prices.

With the oil price adjustments last week, pump prices in Metro Manila range from P57.65 to P86.85 per liter for gasoline, from P58.25 to P83.95 per liter for diesel, and from P75.85 to P88.19 per liter for kerosene.

As of writing, data from OilPrice.com showed that West Texas Intermediate (WTI) crude price pegged at USD80.95 per barrel while Brent crude traded at USD85.27 per barrel.*PNA

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