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Bacolod City, PhilippinesMonday, May 14, 2012
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Oil firms cut prices of
petroleum products

MANILA – Oil firms yesterday announced a rollback on their petroleum products effective today.

Major players Petron Corp. and Chevron Philippines (formerly Caltex) will shed P1.70 in the price per liter of premium gasoline (including unleaded), P1.60 per liter on both regular gasoline and diesel and P1.50 per liter on kerosene effective on 12:01 a.m. today.

Total Philippines, on the other hand, will implement similar price rollbacks, minus that of kerosene, but effective at 6 a.m.

Pilipinas Shell, another big oil player will also rollback its prices on premium gasoline by P1.70 per liter, regular and kerosene by P1.50 per liter and diesel by P1.60 per liter.

Independent player, Eastern Petroleum Philippines, will also cut prices on diesel at P1.70 per liter and P1.60 on gasoline.

Shell and Eastern Petroleum will implement the price rollback at 12:01 a.m. today.

Meanwhile, another independent oil firm, Unioil Philippines, began the wave of significant rollbacks yesterday morning as it reduced its diesel price by P1.65 per liter and gasoline by P1.50 per liter.

The oil firms said the reductions were made to reflect the softening of prices in the international market.*PNA

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