OIL FIRMS MAKE BIG PRICE CUTS
AFTER implementing mixed pump price adjustments last week, big and small oil companies today slashed their prices.
Independent oil firms PTT Philippines, Total Philippines, Petro Gazz, Unioil Philippines, Jetti Oil and Eastern Petroleum which do not carry kerosene announced on Monday a price rollback of their gasoline products by P1.20 per liter and diesel by P1.85 per liter effective at 6 a.m., Tuesday.
Clean Fuel, another independent oil firm, also announced the same price adjustment on its gasoline and diesel products much earlier at 12:01 a.m. Tuesday.
Major oil firm Petron Corporation and Pilipinas Shell, along with Seaoil Philippines and Flying V will also cut the prices of their kerosene products by P2.00 per liter, with the same price adjustment on diesel and gasoline effective at 6 a.m. while Chevron Philippines carried out the same level of price rollback at 12:01 a.m.
The latest price adjustments of local pump prices, according to PTT Philippines Communication Officer Jay Julian, reflect movements in the international oil market.
