Oil firms roll back gas, raise diesel prices


Posted at Aug 27 2012 09:50 PM | Updated as of Aug 28 2012 04:23 PM

MANILA, Philippines - Here's good and bad news for motorists. Oil companies are rolling back their premium gasoline prices, but their diesel prices will rise.

Effective 6 a.m. Tuesday, Total's unleaded and Protec gasoline prices will go down by P0.45 per liter. Chevron also announced a similar rollback for its Gold and Silver gasoline.

However, the 2 oil companies will raise their diesel prices by P0.75 per liter, while their regular gasoline will also rise by P0.25 per liter.

Chevron is also raising its kerosene price by P0.60 per liter.

The Department of Energy (DOE) earlier anounced that diesel prices could go up again anytime this week, the 7th in the last 8 weeks.

Since July, diesel has gone up by P5.30 per liter.

"May good news-bad news. May product kasi na inaasahang may rollback, pero mayroon namang tataas. Kasi kanya-kanyang behavior yan sa international market eh," DOE Director Zenaida Monsada said. - Reports from Alvin Elchico, ABS-CBN News; DZMM; ANC