Motorists enjoy another oil price rollback

Motorists are enjoying a rollback in fuel prices for the third time in nine days with a 50-centavo reduction implemented by oil firms today.

Oil companies which have reduced their fuel prices include Chevron Philippines (formerly Caltex), Petron Corp., Pilipinas Shell, Seaoil, Total Philippines and Eastern Petroleum.

With three consecutive oil price adjustments, the price of premium gasoline is already down P2.75 per liter while the prices of regular gasoline, diesel and kerosene are now down by P2.50 a liter.

Oil firms attributed the rollback to the continuous softening of oil prices in the world market.