Manila: After two consecutive weeks of oil price hikes, motorists are expected to enjoy lower pump prices as firms are set to implement a rollback on Tuesday.

According to Philippines News Agency, in separate advisories on Monday, PetroGazz, CleanFuel, Shell, and Seaoil announced they will reduce diesel and gasoline prices by PHP0.80 and PHP0.90 per liter, respectively. Additionally, Shell and Seaoil will lower kerosene prices by PHP1.40 per liter.

Other oil firms are anticipated to follow suit, providing further relief to consumers. This rollback comes on the heels of last week's price increases, where oil companies raised prices by PHP0.70 per liter for gasoline, PHP0.40 per liter for diesel, and PHP0.20 per liter for kerosene.

Data from the Department of Energy indicated that as of February 25 this year, gasoline and diesel have undergone a total net increase of PHP4.75 per liter, while kerosene has seen a total net increase of PHP2.90 per liter.