Oil firms to roll back prices Tuesday
Ballet Philippines’ ‘Blue Moon Series,’ Tanghalang Pilipino’s ‘Pahimakas sa Isang Ahente’ lead Philstage Gawad Buhay!’s 2014 3rd-quarter citations
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.
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