INQUIRER FILE PHOTO
MANILA, Philippines — After raising gasoline prices for six consecutive weeks, oil companies implemented rollbacks ranging from 25 centavos to 90 centavos effective on Tuesday, April 30.
In separate advisories, oil companies said the prices per liter of gasoline dropped by 25 centavos, diesel by 45 centavos and kerosene, 90 centavos.
READ: Rollback: Gasoline price down 50¢, diesel by 25¢ per liter
Cleanfuel was the first to adjust fuel prices on Tuesday at 12:01 a.m. followed by Jetti Petroleum, Petro Gazz, Seaoil, Shell Pilipinas at 6 a.m.
Other industry players were expected to make a similar price adjustment.
Department of Energy’s Oil Industry Management Bureau director Rodela Romero said there were various reasons behind the price reduction such as the easing Israel-Iran conflict and the possibility of the US Federal Reserve keeping rates unchanged. —JORDEENE B. LAGARE