Metro Manila (Philippines) — Good news await motorists this time with at least six oil firms set to rollback prices of petroleum products starting Tuesday (June 23).
Effective 12:01 a.m., Petron, Shell, and Seaoil will slash diesel prices by 25 centavos per liter while PTT Philippines and Phoenix Petroleum will carry out the same diesel price cut beginning 6 a.m.
Providing the biggest rollback was Flying V, which announced on Monday (June 22) a 30-centavo and 10-centavo price slash on its diesel and gasoline products, respectively, effective 12:01 a.m.
While most of the companies said the latest price reduction reflected the movements in the international oil market, Energy Secretary Jericho Petilla, however, said fuel price movements in the coming months will be hard to predict — depending on the situation in oil-producing countries.
CNN Philippines’ Kristine de Guzman contributed to this story.
