ROLLBACK. Local oil companies slashed prices of petroleum products effective Sunday. INQUIRER file photo
MANILA, Philippines—Local oil companies have slashed the prices of petroleum products effective today (Sunday) due to the softening of global oil prices in the last two weeks and the strengthening of the peso against the US dollar.
Petron Corp., Eastern Petroleum, Seaoil Philippines and Pilipinas Shell Petroleum Corp. cut prices of diesel by 90 centavos per liter, kerosene by 70 centavos a liter, and of gasoline products by 15 centavos a liter.
Flying V implemented a bigger rollback of P1 a liter for diesel and kerosene, 40 centavos a liter for regular gasoline, and 25 centavos a liter for premium gasoline products.
Effective Sunday, Chevron (formerly Caltex) Philippines will also lower the prices of its premium gasoline by 15 centavos per liter, diesel by 90 centavos per liter and kerosene by 70 centavos per liter, all inclusive of VAT. But there will be no price movement for its regular gasoline.
Phoenix Petroleum Philippines will also cut the price of its diesel by 90 centavos per liter and gasoline by 15 centavos per liter effective at 6 a.m. Sunday.