Gas, kerosene price cuts bared
A WEEK after imposing an increase in pump prices of their petroleum products, big and small oil firms implemented a meager price reduction of gasoline and kerosene effective today, Tuesday.
In their separate advisories, major oil firms Chevron Philippines, Pilipinas Shell and Petron Corporation announced a price rollback of P0.25 per liter of their gasoline products, kerosene by P0.10 per liter while no adjustment of prices on diesel products.
The price adjustment takes effect at 6 a.m. Tuesday except for Chevron which is much earlier at 12:01 a.m.
Thai-led PTT Philippines, Petro Gazz, Total Philippines, Phoenix Petroleum, Eastern Petroleum and Unioil Philippines also announced the same price rollback of their gasoline products effective at 6 a.m.while Clean Fuel imposed the same price adjustment much earlier at 8:01 a.m. with no movement on prices of diesel products.
Energy sources said the price adjustment of local petroleum products was due to the softening of oil prices in the world market.