By Lenie Lectura, May 14 2019; Business Mirror

Image Credit to Business Mirror

FOR the second straight week, oil firms implemented a price rollback on petroleum products.

Gasoline prices were slashed by P1.25 per liter and diesel by P0.30 per liter. Diesel price remains unchanged.

Phoenix Petroleum Philippines implemented its price adjustment last on May 11.

Meanwhile, Seaoil Philippines cut prices last Sunday while Eastern Petroleum announced its price rollback on Monday.

Pilipinas Shell Petroleum Corp., Flying V and Petron Corp. will implement their respective price adjustments effective on Tuesday morning.

On May 7, the oil firms also rolled back prices by P0.90 to P1 per liter of gasoline and P0.80 per liter of diesel and kerosene.

Oil firms adjust their prices weekly, reflecting movements in the world oil prices, which have as the concerns over tight supply eased.