Fuel prices slashed a 7th time

MANILA, Philippines—Oil companies will reduce the prices of petroleum products on Sunday to reflect the continued softening of prices in the international market.

Petron Corp., Phoenix Petroleum Philippines, Chevron Philippines and Seaoil Philippines will cut prices of regular gasoline by 90 centavos a liter, premium gasoline by 45 centavos a liter, and diesel fuel and kerosene by 35 centavos a liter.

Other companies had yet to make their respective announcements as of press time Saturday but are expected to also cut their prices.

This is the seventh consecutive week that prices of petroleum products have gone down.

Prior to Sunday’s oil price rollback, pump prices of diesel fuel ranged from P42.20 to P46.20 a liter and gasoline from P49.55 to P57.07 a liter.

Follow Us

Recent Stories:

• Court of Appeals stops field trials of genetically modified eggplant
• GDP on track to meet 6-7% target
• Stocks continue to decline
• BSP chief says capital flight to spare PH
• Imports contracted in Q1
• MBC, FPI buck halt to oil smuggling case vs Phoenix
• AirAsia completes deal with Zest Airways
• DOTC sets ‘appeal fee’ for MRT contract bid
• Limited access to SDAs to affect P1B in funds
• Maynilad jacks up 5-year capex budget to P70B

Short URL: http://business.inquirer.net/?p=61783

Tags: Chevron Philippines , fuel price hike , Petron Corp. , Phoenix Petroleum Philippines , Seaoil Philippines