Flying V announces weekend price rollback

MANILA, Philippines - Independent oil player Flying V announced Friday that it will rollback the prices of its petroleum products on Saturday.

Flying V said it will slash by P1.50 per liter and P50 centavos the prices of its gasoline and biodiesel, respectively, at 12:01 a.m. Saturday.

In late February, Flying V initiated a weekend price cut that effectively started five consecutive weeks of pump price rollbacks.

No other oil firm has announced a price adjustment for the weekend as of press time.

Last Tuesday, Petron Corp., Chevron Philippines, Pilipinas Shell and independent oil players Eastern Petroleum Philippines and SeaOil Philippines enforce mixed price adjustments on their petroleum products.

The Department of Energy said that the average price of diesel as of Friday stood at P40.10 per liter while that of gasoline was pegged at P51.35 per liter.