OIL companies will implement another hefty price cut on Tuesday, the second price rollback after a series of price increases.
Petron, Pilipinas Shell, Phoenix Petroleum, Seaoil, PTT Philippines, Eastern Petroleum, and Flying V announced that they will rollback the price of diesel and gasoline by 95 centavos and 80 centavos per liter, respectively, effective June 13, Tuesday.
Petron, Pilipinas Shell, Seaoil and Flying V will also slash the cost of kerosene by P1.20 centavos per liter.
All oil firms will implement the price adjustment at 6 a.m. except for Seaoil and Flying V which will adjust their pump prices at 12 midnight.
Last week, oil firms reduced the price of diesel by 55 centavos and kerosene by 90 centavos.