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‘Tiny’ oil price cut set this week

October 31, 2022 Edd Reyes 314 views

FOR the second consecutive week, local oil firms announced another meager price rollback of petroleum products which would take effect Tuesday.

In their separate advisories, Chevron Philippines said they would cut the prices of their gasoline products by P0.25 centavos per liter, diesel by P0.60 centavos per liter, and kerosene by P0.25 centavos per liter effective at 12:01 a.m. on Tuesday, All Saints’ Day.

Two other oil giants, Petron Philippines and Pilipinas Shell, along with small oil players Seaoil Philippines and Flying V, also announced the same price adjustments of their gasoline, diesel, and kerosene products by the same level, effective at 6:00 a.m. Tuesday.

Independent oil firms PTT Philippines, Phoenix Petroleum, Total Philippines, Petro Gazz, Unioil, and Jetti Oil, who do not carry kerosene products, also bared their respective pump price rollback by uniform amounts, diesel by P0.60 centavos per liter and gasoline by P0.25 centavos per liter effective at 6:00 a.m. while Clean Fuel at 8:01 a.m.

Energy sources said the meager price cut on petroleum products was based on a week-by-week monitoring of international oil market prices.