Prices of petroleum products at the pump are set to go down substantially today, a complete reversal from last week’s upward price movement.
The oil price rollback will take effect at 6 a.m., local oil companies announced in separate text messages to journalists.
The price of unleaded gasoline will drop by P1.15/liter, diesel by P0.90/liter and kerosene by P0.85/liter, the same companies revealed.
Oil executives explained that the impending reduction in pump prices was brought about by favorable movements in the world crude market, which they are simply passing on to domestic consumers.
It can be recalled that last June 19, prices of unleaded gasoline went up by P0.20/liter while diesel increased by P0.45/liter. PNA
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