THE unexpected happened.

Oil firms yesterday morning announced cuts in the prices of their products, reversing a trend of price upticks in the past weeks.

Flying V and Eastern Petroleum rolled back prices of kerosene, diesel, regular and unleaded gasoline. The adjustments took effect at 12:01 a.m. yesterday.

The two independent oil players slashed prices of premium and unleaded gas by 20 centavos per liter, and kerosene and diesel by 80 centavos per liter.

Eastern Petroleum reduced prices of regular gasoline by 40 centavos per liter.

Big oil players Shell and Petron also rolled back their prices, snipping 20 centavos per liter off premium gas; trimming regular gas price by 40 centavos per liter; diesel by 80 centavos per liter; and kerosene by 90 centavos per liter.

Total Petroleum decreased its pump prices at 6 a.m. yesterday by as much as 40 centavos per liter.

In a text message sent by Iris Reyes, communications officer of Total, the firm’s unleaded gasoline price was slashed by 20 centavos; regular gasoline, 40 centavos; and diesel, 80 centavos.

Oil firms jacked up prices four times so far this year, resulting in accumulated increases worth P2.70 per liter on diesel, P3.20 per liter on unleaded gasoline and P2.60 per liter on regular gasoline.