MANILA – Oil firms yesterday implemented a sweeping price cut on their petroleum products.
Major players Petron Corp., Pilipinas Shell and small player Seaoil Philippines slashed 65 centavos per liter for premium gasoline (including unleaded); 50 centavos per liter on regular gas, 40 centavos per liter on diesel; and 25 centavos per liter off on kerosene effective at 12:01 a.m. yesterday.
Big player Total Philippines also cut prices of the same set of petroleum products, except kerosene, at 6 a.m.
Flying V, another small oil firm, cut 60 centavos per liter on premium gasoline prices and 50 centavos per liter on regular, diesel, and kerosene, also at 6 a.m.
“This (adjustment) is to reflect the movements in the international oil market,” Petron said in a text advisory.
Other oil companies have yet to announce a price tweak as of press time.
Last week, oil firms also impose price rollback wherein prices of unleaded was decreased by P1 per liter, kerosene by P0.90 per liter, regular by P0.70 per liter and diesel by up to P0.80 per liter.*PNA