Gas prices drop by 50 centavos

Fuel prices were trimmed yesterday as prices of world crude continued to go down.

Pilipinas Shell Petroleum Corp. and Petron Corp. reduced their gasoline, diesel and kerosene prices by 50 centavos after Chevron Philippines (formerly Caltex Philippines) marked down its prices at midnight Wednesday.

The smaller firms — Total Philippines, Unioil Petroleum Philippines and SeaOil Petroleum — followed suit later yesterday.

However, prices of liquefied petroleum gas (LPG) products remain unchanged.

Last Oct. 5, oil companies also effected a 50-centavo price cut as world oil prices continued to weaken.

Pump prices for unleaded gasoline therefore will range from P37.75 to P38.15 per liter; diesel will range from P33.29 to P34.37 per liter; and kerosene from P36.58 to P39.66 per liter.

Discounted diesel prices will range from P33.05 to P33.48 per liter.

World crude oil prices eased somewhat as investors weighed plans by Nigeria and Venezuela to trim their output against healthy inventories of top consumers such as the United States. — Ted Torres, AFP