Oil firms lower fuel prices anew

MANILA, Philippines–Oil firms are imposing downward adjustments on fuel products for the second straight week as global supply remains stable.

Effective 12:01 a.m. Tuesday, Petron is cutting diesel and kerosene prices back by 35 centavos per liter, as well as gasoline prices by 15 centavos per liter.

“These reflect the movements in the international oil market,” the country’s top oil player said in its official advisory.

Shell, another major oil firm, is adjusting its prices at the same time. Shell said in an advisory that its rollback will reach 35 centavos per liter for kerosene, 30 centavos per liter for diesel and 10 centavos per liter for gasoline.

Among independent oil players, Seaoil announced it was cutting diesel and kerosene prices by 35 centavos per liter, as well as gasoline by 15 centavos per liter, starting at 12:01 a.m.

PTT Philippines said it would adjust prices as well but only for diesel (35 centavos per liter) and gasoline (15 centavos per liter) since it does not carry kerosene products.

Phoenix Petroleum Philippines would be implementing the same adjustments as PTT Philippines but starting at 6 a.m.–Riza T. Olchondra