Oil prices dip
LOCAL oil firms implemented a price decrease of domestic oil products effective Tuesday.
Independent oil companies, led by PTT Philippines, Total Philippines, Unioil and Petro Gazz slashed the prices of their gasoline products by P0.65 per liter while diesel at P0.70 per liter effective at 6 a.m.
Another small player Clean Fuel also implemented the same rollback of prices of its gasoline and diesel product at 8:01 a.m.
Major oil firm Chevron Philippines imposed the same price adjustment of its gasoline and diesel while kerosene at P0.75 per liter much earlier at 12:01 a.m. Tuesday.
Petron Philippines, Pilipinas Shell and another independent company Seaoil Philippines implemented the same level of price cut of their petroleum products at 6 a.m..
PTT Philippines Communication Officer Jhay Julian said the price adjustment mainly reflect movements in the international oil market.
