By Kris Crismundo | Philippine News Agency
Fuel prices at the pump will have rollbacks on New Year’s Eve.
In separate advisories, Caltex, Cleanfuel, Flying V, Jetti, Petro Gazz, Seaoil, and Shell said they will slash gasoline and diesel prices by 30 centavos per liter.
Caltex, Seaoil, and Shell will also cut kerosene prices by 90 centavos per liter.
Other oil firms are expected to follow suit.
The oil price rollback will begin as early as 12:01 a.m. Tuesday.
Global oil prices were seen weak before the year ends as the International Energy Agency forecast that the international oil market will have an oversupply in 2025.
Meanwhile, the Department of Energy said the year-to-date adjustment of gasoline and diesel stood at net increases of P13.05 per liter and P11.30 per liter, respectively, while kerosene had a total net decrease of P1.80 per liter.