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Bacolod City, Philippines Tuesday, March 3, 2015
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Oil companies roll back
diesel, hike gas prices

Oil companies will roll back diesel prices by 40 centavos per ;iter and increase gas prices by 15 centavos per liter today.

Pilipinas Shell Petroleum Corporation (PSPC), Phoenix Petroleum Philippines Inc, Seaoil Philippines Inc, PTT Philippines and Petron Corporation will lower diesel prices per liter by 40 centavos and hike gas prices per liter by 15 centavos.

Meanwhile, PSPC, Seaoil and Petron Corporation noted it will also decrease kerosene prices per liter by 80 centavos.

Phoenix Petroleum Philippines will apply price movements at 6 a.m. today, while all four oil companies will move prices at 12:01 a.m. today

Phoenix, Seaoil and Petron noted the price changes reflect international oil market movements.

According to the Department of Energy’s (DOE) oil price monitor for Metro Manila as of February 24, diesel is presently sold from P27.90 to P31.20 per liter, while gasoline is offered from P37.80 to P43.35 per liter.

Diesel has a common price of P30.10 per liter, while gasoline has a common price of P42 per liter.

On the other hand, the DOE did not indicate how much is the prevailing kerosene prices.

Consumers will likely enjoy more liters or save more on other goods with the reduction of oil products' prices.*PNA

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