Big-time price rollback on diesel, kerosene
IN time for the celebration of Valentine’s Day, big and small oil firms imposed a big-time price rollback on diesel and kerosene effective on Tuesday, February 14.
Major oil firm Chevron Philippines was first to announce a price cut of its diesel products by P2.20 per liter, kerosene by P2.50 per liter but no movement of prices of gasoline products which took effect at 12:01 a.m. Tuesday;
Two other major oil companies, Petron Corporation and Pilipinas Shell, along with independent oil players Seaoil Philippines and Flying V also announced on Monday the same price adjustments of their diesel and kerosene products effective at 6 a.m.
Thai led PTT Philippines which do not carry kerosene products also announced a price cut of its diesel products by P2.20 per liter with no movement on prices of gasoline.
Other independent oil companies that do not sell kerosene such as Unioil Philippines. Petro Gazz, Total Philippines and Eastern Petroleum would implement a price cut of their diesel products by the same level at 6 a.m. while Clean Fuel carried out the same price adjustment much earlier at 12:01 a.m. on Tuesday.
PTT Communication Officer Jhay Julian said the second round of oil price rollback reflect movements in the international crude oil market.
