Pump prices cut anew by 50 cents

Amid the looming increase in power rates, consumers may still have a reason to cheer up. Prices of petroleum products went down across-the-board yesterday by P0.50 per liter as the prices of the benchmark Dubai crude continued to soften in the world market. The price of liquefied petroleum gas or cooking gas also shrank by P0.56 per kilogram for the standard 11-kilogram cylinder.

Petron Corp. said it rolled back pump prices for Blaze, XCS, Xtra, Dieselmax, kerosene and regular gasoline at 8 a.m. yesterday.

Eastern Petroleum Corp. also rolled back its prices by P0.50. Price cut for its LPG product took effect at noon.

Pilipinas Shell and Caltex Philippines, now known as Chevron, also announced price cuts in the morning. Smaller players Total Philippines, Unioil Petroleum, Eastern Petroleum also rolled back their prices.

With the latest price cuts, the price of premium gasoline will range from P38.24 to P40.50 per liter, and unleaded gasoline from P37.64 to P39.53.

Kerosene prices will range from P36.19 to P41 per liter, and diesel from P32.70 to P38. LPG prices will range from P457 to P521.16 per 11-kilo cylinder. — Ted Torres