MANILA, Philippines - The Department of Energy (DOE) has confirmed a rollback of petrol prices next week.
There will be a P1 per liter rollback in gasoline and diesel prices.
The actual price drop will be known on Saturday because there is still one day of trading left before the finalized prices can be announced on Monday.
The rollback is meant to help tricycles, taxis and motorboats.
Meanwhile, Petron Corp. has started selling cheaper gasoline.
The “octane rating” of its cheaper gasoline is 88, which supposedly means less pressure is needed on the pedal.
Petron chair Ramon Ang said even cars will be able to use Petron Pinoy Gasoline.
The list of current Petron stations with Pinoy Gasoline are Fairview in Quezon City,;Ortigas Ave. Ext. in Cainta; Sipsipin, Jala-Jala in Rizal,; Malhacan, Meycuayan in Bulacan; Bolinao in Pangasinan; Mariveles, Bataan; and, Ubando, Bulacan.
The Department of Energy said it is pleased with Petron’s initiative. It said it should serve as a challenge to other companies to lower oil prices without affecting quality. -- report from Alvin Elchico, ABS-CBN News