Motorists unimpressed by new oil price rollback

  • Written by Jeffrey C. Tiangco
  • Published in Top Stories
  • Read: 503

FOR the third straight week, oil companies announced another round of oil price rollback, which motorists described as “crumbs,” effective today The announcement of the price rollback was spearheaded by one of the country’s oil giants, Pilipinas Shell, and independent oil players PTT, Phoenix, and Flying V, Seaoil.

The rollback was pegged at P0.70 per liter in pump prices of gasoline, P0.15 in kerosene and P0.10 in diesel and took effect either at 12:01 a.m. or 6 a.m. today.

The rollback, the third for this month, was again attributed to the movement of oil prices on the world market.

Records at the Department of Energy (DoE) showed that pump prices for gasoline ranges from P43 to P45 per liter while diesel is pegged at P30 to P34 per liter and P36 per liter for kerosene.