BY JOHN LOURENZE POQUIZ

MAJOR and independent oil firms yesterday announced a P2 per liter rollback in the prices of gasoline and diesel.

The price cuts of Pilipinas Shell Petroleum Corp., Petron Corp., and Chevron Philippines Inc. took effect 12:01 a.m. Saturday.

Independent oil firms Flying V, Seaoil Philippines Inc. and PTT Philippines Corp. also announced a P2 per liter cut in their petroleum products.

Gasoline and diesel prices have been reduced by P27 per liter and P24 per liter, respectively, since world crude price peaked in August.

Energy secretary Angelo Reyes said more fuel price cuts are to be expected in January and February.

Petron said its price reduction was not forced by protests from transport groups.

"We have been mulling a rollback for the past days and this purely a marketing decision," said Raffy Ledesma, Petron public relations officer.

Ed Chua, Pilipinas Shell country chairman, said: "How can they say that? They’re asking for a P10 rollback, but we’re doing P2."

Chua said Shell has given the "full reduction" for the year.

He said further reductions could be expected next month. But he said the P10 reduction being demanded by transport groups "is not possible."

Piston (Pinag-isang Samahan ng mga Tsuper at Operators Nationwide) said it would stage more protest actions next month to press the Big 3 to implement "real" rollbacks.

Members of Piston and Pasang Masda Pangkalahatan Sanggunian ng Manila at Suburbs Drivers Associations) held a protest caravan from the Quezon Memorial Circle in Quezon City to the offices of the Shell, Petron and Chevron in Makati, where they lighted black candles.