AFTER three consecutive oil price increase highlighted by a total of P2.00 per liter price hike in gasoline, oil companies implemented a price rollback only in diesel and kerosene yesterday.
Pilipinas Shell, one of the two oil giants in the country, spearheaded the implementation of the rollback at P.50 and P0.35 in pump prices per liter of diesel and kerosene respectively.
The rollback, which took effect at 6 a.m. yesterday, was reportedly due to movement of oil prices in the world market.
Motorists and the public in general described the rollback as crumbs compared to the total amount of the implemented three consecutive oil price hike in diesel and kerosene, that reached P2.50 and P2 respectively.
Yesterday’s oil price rollback is the first for the month which came at the heels of the three consecutive oil price hikes with an average of P2 per liter increase in prices of all petroleum products.