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Bacolod City, Philippines Tuesday, August 9, 2016
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Oil firms cut prices

MANILA-- Various oil companies have announced another round of price cuts for petroleum products effective today, reflecting the movement of oil prices in the world market.

In an advisory, Pilipinas Shell Petroleum Corp. said it will reduce the price of gasoline by P0.10 centavos per liter, diesel by P0.75 centavos per liter, and kerosene by P0.85 centavos per liter, effective 6 a.m. today.

SeaOil Philippines and Flying V will also implement the same reductions for all fuel products beginning at 12:01 a.m.

Meanwhile, Phoenix Petroleum Philippines, PTT Philippines, and Eastern Petroleum Corp. said they will reduce the price of gasoline and diesel by the same amounts at 6 a.m.

Local gas prices plunged for the sixth consecutive week, while kerosene and diesel prices also dropped for four-week lows.

With the price adjustment today, gasoline prices could range from P33.30-P40.35 per liter in Metro Manila.

Diesel prices, meanwhile, could range from P22.70-P25.60 per liter.*PNA

 

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