MANILA — Oil firms will implement a rollback on fuel prices this week.
In separate advisories, Clean Fuel, Flying V, Petro Gazz, Phoenix Petroleum, and Shell said they will cut diesel prices by PHP0.50 per liter and gasoline prices by PHP2 per liter starting Tuesday.
Except for Clean Fuel and Petro Gazz, the other oil firms will also slash prices of kerosene by PHP1.95 per liter.
Chevron (Caltex) and Seaoil implemented the price reduction as early as Monday.
The coronavirus disease 2019 (Covid-19) pandemic continues to drag global demand for crude oil, as world oil prices are down for five straight weeks.
As of this posting, West Texas Intermediate crude is trading at USD20.50 per barrel while Brent crude is selling at USD26.74 a barrel. (PNA)
