Oil firms cut pump prices

A+
A
A-

MANILA, Philippines—Local oil companies slashed the prices of petroleum products effective on Saturday to reflect the continued decline of oil prices in the global market.

Pilipinas Shell Petroleum Corp., Petron Corp., Seaoil Philippines, Chevron Philippines and Phoenix Petroleum Philippines cut prices of premium gasoline and kerosene by 45 centavos a liter, and of diesel by 40 centavos a liter.

Prior to this latest price adjustment, diesel prices ranged from P39.20 to P42.14 a liter while gasoline retailed for P49 to P55.29 a liter. As of March 10, the year-to-date net increase in gasoline prices stood at 95 centavos a liter. For diesel, the previous rollbacks have already offset the price increases in the previous months.

According to a report from the Department of Energy, the continued softening of oil prices can be attributed to various factors including the ongoing concerns about stability in the eurozone.

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

editors' picks

advertisement
advertisement