Oil firms to roll back prices Tuesday

5:46 pm | Monday, September 3rd, 2012

PHOTO BY RICK ALBERTO

MANILA, Philippines–Local oil companies will roll back gasoline prices Tuesday morning amid easing pressure from international markets.

The country’s largest oil refiner Petron Corp. on Monday announced that it would roll back premium gasoline prices by 90 centavos per liter starting at 12:01 a.m. of Sept. 4. This covers the company’s Blaze, XCS, and Xtra gasoline variants.

At the same time, lower-priced “Pinoy” gasoline and regular gasoline would have a 20-centavo rollback.

Similarly, Seaoil Philippines Inc. said it would adjust price of its premium gasoline brands by 90 centavos, while regular gasoline prices would be lower by 20 centavos per liter. “This is to reflect price movements in the international petroleum market,” the company said in a text message.

Chevron Philippines and Total (Philippines) Corp. also announced similar price cuts on Tuesday.

For its part, Unioil Petroleum Philippines said prices for its premium unleaded and “Quantum” gasoline products would be cut by P1 per liter.

All price adjustments are inclusive of value-added taxes.

Last week, oil companies rolled back prices of premium and unleaded gas by 45 centavos per liter, but increased diesel prices by 75 centavos per liter. Prices of kerosene were also hiked 60 centavos per liter.

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Tags: Business , Chevron Philippines , oil prices , Petron Corp. , seaoil Philippines inc. , total (Philippines) inc. , Unioil Petroleum Philippines

http://profile.yahoo.com/V774NXDHUXKH44SZ6IUPGZIXJY Lui

Pahirap na sa masang pilipino ang taas ng presyo ng produktong petrolyo. Baka kailangan buksan ang mga libro ng mga kumpanya ng langis para makita kung talaga bang nasa tamang halaga ang kada litro ng langis. dapat may auditor, para macheck. isang government auditor(madalas mababayaran), private Auditor (minsan pede din bayaran), auditor(representing the consumers), isang Auditor(representing transport groups). dapat tugma sila lahat. Any discrepancy needs to be justified

Pwede din naman ibaba ang VAT ng produktong petrolyo sa 6% kung talagang hindi pwedeng tanggalin. malaking bagay na yun. malaking tulong. Mababawasan ba ang pork Barrel? mababawasan ba ang committee appropriations budget?
pugadlawin

If only the DOE is not under the OIL firms and distributors, perhaps we can have better deals.

It is revolting how gas stations in NEGROS OCCIDENTAL charge up to 7 pesos per liter more than pump price in Manila….

DOE??? are you there?

http://profile.yahoo.com/S4W5SH35C5W6LRS23WA6UEMAYM Brian

That’s right. Prices in Negros Occidental. should be the same w/ that of Metro Manila. Local businessmen had a forum w/ oil companies and they lowered the difference in price to around P3.

But slowly and sneakily, oil companies have been jacking up prices once again out of nowhere and next thing you know…. P7 na ang difference from P3.

Oil firms to roll back prices Tuesday

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