6,909 guests

Oil firms announce new price rollback

  • Written by Jeffrey C. Tiangco
  • Published in Metro
  • Read: 204

OIL companies are set to implement another round of oil price rollback this week, according to oil industry insiders.

The insiders said there will be a P1 rollback in pump prices per liter of kerosene, P0.90 for diesel and P0.80 for gasoline.
   
They added that the rollback was due to movement of oil prices in the world market.
   
The rollback is expected to be announced today, the first day of this month, or tomorrow.
   
Earlier, oil companies, in four consecutive weeks implemented an oil price rollback which started just on the first week of July or a day after President Rodrigo Duterte formally assumed as the 16th president of the country.
   
Meanwhile, oil companies announced last Friday a rollback in prices of liquefied petroleum gas (LPG) effective today (Aug 1).
   
The rollback in prices for LPG was pegged at P0.70 per liter or P7.70 per 11 kilograms cylinder tank while P0.40 per liter for auto-LPG.