Quantcast
Latest Stories

Oil firms to roll back prices Tuesday

By

INQUIRER FILE PHOTO

MANILA, Philippines — Local oil companies are slashing the prices of petroleum products, effective Tuesday, to reflect the continued softening of global oil prices.

Pilipinas Shell Petroleum Corp., Petron Corp., Chevron Philippines, Eastern Petroleum, Phoenix Petroleum Philippines and Seaoil Philippines are cuting prices of premium gasoline by 60 centavos a liter, regular gasoline by 35 centavos a liter and of kerosene by 40 centavos a liter.

Zenaida Y. Monsada, director of the Oil Industry Management Bureau at the Department of Energy explained  that the decline in global oil prices could be attributed to the large fuel inventory of the US.

Monsada further disclosed that global diesel prices inched up slightly but was offset by the strengthening of the Philippine peso.

Prior to this week’s oil price rollback, prices of unleaded gasoline ranged from P48.75 a liter to P54.64 a liter while diesel prices ranged from P40.70 a liter to P42.95 a liter.

Prices of premium gasoline based on the Mean of Platts Singapore (MOPS) fell to $121 a barrel as of Nov. 30 from $123 a barrel as of Nov. 26, while those of regular gasoline remained flat during the period.

MOPS-based kerosene prices similarly fell to $126 a barrel as of Nov. 30 from $127 a barrel as of Nov. 26.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Chevron Philippines , Department of Energy , Eastern Petroleum , oil and gas , oil industry management bureau , oil price rollback , Petron Corp. , Phoenix Petroleum Philippines , Pilipinas Shell Petroleum Corp. , Seaoil Philippines , Zenaida Y. Monsada



Copyright © 2014, .
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
Advertisement
Advertisement

News

  • US teacher fired over comment on black president
  • Magnitude-7.5 earthquake shakes Mexican capital
  • Title of new Hillary Clinton book: ‘Hard Choices’
  • Filipinos, Dutch re-enact crucifixion of Christ
  • 14 killed in car bombing in Homs
  • Sports

  • Nadal ousted by Ferrer in Monte Carlo quarters
  • Pacquiao shorts in Bradley fight sold for P1.7M in LA auction
  • Ryu pitches Dodgers past Giants
  • Alonso sets the pace in Chinese GP practice
  • Heat seek Three-peat but Spurs, Pacers top seeds
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Las Vegas ‘Pinoy Pride’ fest hails Filipino heritage
  • Marking Jesus’ journey on Good Friday
  • Filipina accomplice arrested for fake bills in Malaysia
  • DoH denies Filipino nurse no longer positive for MERS virus
  • WHO warns vs spread of MERS-Cov, urges vigilance in taking precautions
  • Marketplace