MORE local oil firms announced another implementation of cutbacks on their respective fuel prices,--the companies fifth price roll back since March 2, which will take effect today, Tuesday.
Major oil firms Petron Corporation, Pilipinas Shell and Chevron Philippines said effective at 6 a.m. today they will implement rollbacks amounting to P2.00 per liter on gasoline, P1.95 per liter on kerosene and P0.50 centavos per liter on diesel.
Independent oil firm PTT Philippines communication officer Jhay Julian in his text message said they will also cut their pump prices of gasoline and diesel by the same levels while Phoenix Petroleum Philippines and Flying V also announced the same price rollbacks effective at 6 a.m. today.
The price rollbacks of gasoline reached a total of P12.35 centavos, diesel by P9.10 centavos and P12.45 for kerosene since March 2 or more than a week before the government imposed community quarantine in Metro Manila and later the entire Luzon to address the threat of the coronavirus disease (COVID-19).
Other independent oil companies have yet to announce their respective price cuts but energy sources said they are likely to follow suit.