Big and small oil companies enforced at various times Tuesday their second price cut in as many weeks, this time slashing up to P0.75 a liter on their petroleum products.

The country’s three oil giants – Pilipinas Shell, Petron Corp., and Chevron Philippines (formerly Caltex) – rolled back their respective prices of unleaded gasoline, premium gasoline, diesel and kerosene by P0.75 a liter.

The “Big Three” also pulled down their prices of regular gasoline by P0.25 a liter. Shell and Chevron implemented the rollback at 12:01 a.m. Tuesday while Petron followed suit at 6 a.m.

Meanwhile, Independent Philippine Petroleum Companies Association (IPPCA) members Seaoil Philippines and Eastern Petroleum Philippines also made official Tuesday their respective price cuts.

Seaoil’s price adjustment was enforced also at past midnight while that of Eastern Petroleum took effect at 6 a.m. However, Eastern Petroleum left out kerosene in its rollback, as it was not mentioned in its “text” advisory.

“Eastern will roll back the price of diesel, unleaded and premium gasoline by P0.75 and P0.25 per liter for regular gasoline,” company President Fernando Martinez said. Martinez also serves as IPPCA chairman.

Last August 17, both major and independent oil firms reduced prices by P1 a liter. The rollback covered prices for diesel, kerosene and all variants of gasoline.

The latest price tweak brought down average fuel prices in Metro Manila to as follows: P42.50 a liter for gasoline (unleaded); P33.50 a liter for diesel and P43 a liter for kerosene.

The Department of Energy (DoE) announced the fuel price reduction over the weekend, based on lowered prices in the world market.

The same oil firms, it was recalled, increased diesel and kerosene prices by P1 a liter and gasoline prices by as much as P0.75 a liter last August 10.

A week earlier, a rollback of P0.25 a liter was imposed on prices of premium gas, unleaded gas, diesel and kerosene, while those of regular gas was hiked by P0.25 a liter, showing that domestic fuel prices have been anything but stable this month.