Big-time price cuts on diesel, kerosene
LOCAL pump prices continue to move downward after big and small oil companies announced their uniformed big-time rollback on prices of diesel and kerosene and meager price cut of gasoline products effective Tuesday.
Major oil firms Petron Corporation and Pilipinas Shell, along with small oil players Flying V and Seaoil Philippines, bared that at 6:00 a.m. Tuesday, they would rollback their respective prices of diesel by P3.95 per liter, kerosene by P2.65 per liter and gasoline by P0.85 centavos per liter while Chevron Philippines will impose the same price adjustments much earlier at 12:01 a.m.
Independent oil firms which do not carry kerosene products, such as PTT Philippines, Total Philippines, Phoenix Petroleum, Petro Gazz, Unioil Philippines, and Jetti Oil, also announced on Monday the same price adjustments on diesel and gasoline products which would take effect at 6:00 a.m. while Clean Fuel will implement the same pump price cuts at 8:01 a.m., Tuesday.
Energy sources said the drop in oil prices in the global market was triggered by lockdowns in China, the world’s largest oil importer, causing lesser fuel demand.
