MANILA – Pilipinas Shell and independent oil player Eastern Petroleum Philippines cut prices of petroleum products yesterday.
Eastern Petroleum said that it slashed P1 per liter on premium and unleaded gasoline.
Eastern said it would also pull down the price of regular gasoline by P0.40 per liter and diesel as well as kerosene by P0.25 per liter.
Fernando Martinez, Eastern Petroleum chief executive, said this week’s price rollbacks reflected the downward movement of petroleum products in the international market.
Pilipinas Shell, on the other hand, cut pump prices for unleaded by P0.90 per liter, regular by P0.40 per liter, diesel by P0.35 per liter and kerosene by P0.25 per liter.
Other oil companies have yet to announce a price adjustment.
Last week, local oil firms enforced uniform price hikes amounting to P0.70 per liter on premium (including unleaded), P0.60 per liter on both regular and kerosene and P0.30 per liter on diesel.*PNA