Oil price rollback on

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Oil companies will implement price rollback effective this morning.

In separate advisories, Chevron (Caltex), Cleanfuel, Flying V, Petro Gazz, Seaoil, and Shell said they will cut diesel prices by P0.30 per liter and P0.25 per liter on gasoline prices.

Chevron, Flying V, Seaoil, and Shell will also reduce kerosene prices by P0.15 per liter.

But prices of liquefied petroleum gas (LPG) will increase.

Phoenix LPG Philippines Inc. and Petron announced an increment of P0.15 per kilogram of LPG product, while Solane-branded LPG increased by P0.13 per kilogram, exclusive of value-added tax.

This reflects a minimal increase of up to P1.65 for a regular 11-kilogram LPG cylinder.

As Metro Manila, Bulacan, Cavite, Laguna, and Rizal will be placed under a stricter community quarantine measure again effective today, Department of Energy Secretary Alfonso Cusi has assured the public of continuous services in the energy sector.

“DOE will continue to work quietly to ensure uninterrupted supply of power and petroleum products in all parts of the country. We will see to it that our industry backliners can also safely report to work to run the plants, the grids, the gas stations, and others,” Cusi said.

Meanwhile, the peso ended sideways against the US dollar yesterday while the Philippine Stock Exchange index (PSEi) ended in the negative territory primarily on worries on the continued rise of Covid-19 infections worldwide.

The main equities index slipped anew after it shed 3.59 percent, or 212.53 points, to 5,715.92 points.

All Shares contracted by 2.91 percent, or 101.81 points, to 3,398.46 points.

All sectoral indices also finished the day’s trade on the red, led by the Property declining by 5.12 percent.

It was trailed by the Financials, 3.74 percent; Holding Firms, 3.46 percent; Services, 2.19 percent; Mining and Oil, 1.93 percent; and Industrial, 1.64 percent.

Volume totaled 1.63 billion shares amounting to P6.586 billion.

Losers led gainers at 154 to 51, while 39 shares were unchanged.*PNA

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