• Oil companies reduce prices

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    PILIPINAS Shell and Phoenix Petroleum said on Sunday they are cutting prices of petroleum products across-the-board effective Monday.

    In their respective text advisories Sunday, Pilipinas Shell and Phoenix Petroleum Philippines said that they would cut the prices of diesel by P0.90 a liter and gasoline by P0.85 a liter.

    Pilipinas Shell added that it would cut by P1.10 a liter the price of kerosene.

    The decrease in pump price of Pilipinas Shell would be Monday shortly after midnight while for Phoenix, it would be at 6 a.m. also on Monday.

    Phoenix said the price movements reflect the continued decline in the prices of refined petroleum products in the world market.

    Other oil firms have yet to make their announcements.

    The said adjustment would be the third for the month of January.

    On January 7, Pilipinas Shell decreased the price of its diesel by P0.45 a liter and kerosene by P0.25 while retaining the price of its gasoline products. The announced rollback welcomed the New Year.

    Before that, Petron Philippines on January 1 implemented a P7.65 a kilogram price rollback on liquefied petroleum gas after having an across-the-board price hike on New Year’s Eve.

    Meanwhile, they would also cut by P5.34 a kilogram LPG prices in Cebu and Bohol to align prices.

    Besides the LPG price drop, Petron would also slash P4.27 a liter its AutoLPG nationwide and decrease by P2.98 a liter in Bohol and Cebu at the same time.

    WITH REPORTS FROM PNA

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