Pump prices rolling back Gasoline down by P0.65/liter, diesel by P0.35/liter 0 SHARES Share it! Independent player Phoenix Petroleum Philippines Inc. was the first to roll back fuel prices effective 6 a.m. Saturday. The government was latching on to the 15 to 30 days of product inventory of the oil companies, and expected the implementation of higher taxes by at least mid-January. For example, if old diesel inventory runs out today, we will have to report that to the DOE because new products with higher taxes will already be sold. The DOE is expecting full imple­mentation of the second batch of higher petroleum excise taxes by the end of this week noting that some oil companies have heftier inventories.

Source: Manila Bulletin February 02, 2019 11:48 UTC