Oil prices rolled back today

MANILA, Philippines — Oil companies are rolling back fuel prices anew today, reflecting movement in the world market.

In separate advisories, oil firms said they would implement a price cut of P0.45 per liter on gasoline and of P0.10 per liter on diesel. There is no adjustment on kerosene prices.

Chevron Philippines (Caltex) implemented its price adjustments starting 12:01 a.m. today.

Flying V, Petro Gazz, Phoenix Petroleum, Pilipinas Shell Petroleum Corp., PTT Philippines and Total Philippines imposed their price movements effective 6 a.m.

Cleanfuel said it lowered gasoline and diesel prices by P0.60 per liter and P0.20 per liter, respectively, yesterday.

In the past trading week, international oil prices opened strong but declined toward the closing as concerns over a weak demand outlook continued to weigh on sentiment.

Today’s price adjustment is the second consecutive week that gasoline prices were reduced, and the third successive week for diesel.