Oil firms cut pump prices

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Oil companies are set to roll back prices of petroleum products effective Tuesday.
In separate advisories on Monday, they said they will cut diesel prices by 50 centavos per liter.

There will also be reduction in prices of gasoline and kerosene by 60 centavos per liter.
Pilipinas Shell, Petron Philippines, Seaoil and PTT Philippines are set to implement their price reduction at 12:01 a.m., Tuesday.

Phoenix Petroleum Philippines is set to lower pump prices at 6 a.m., also on Tuesday.
Petron will lower, too, prices of liquefied petroleum gas (LPG) also on Tuesday.

It said its Gasul and Fiesta Gas prices will be cut by P2 per kilogram.
Its Xtend AutoLPG will be slashed by P1.12 per liter.


According to the oil firms, this week’s price adjustments were caused by movement in prices of refined petroleum products and LPG contract prices in the world market.

Last week, they also reduced prices of diesel by 50 centavos per liter and kerosene by 45 centavos per liter.

But the oil companies increased prices of gasoline by 40 to 50 centavos per liter.

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