Unioil rolls back diesel, kerosene prices by P2

Unioil Petroleum Philippines Inc. (UPPI) yesterday rolled back the price of its diesel and kerosene products by P2 per liter.

Luisito Medina-Cue Jr. said Unioil’s P2 per liter price cut was implemented at 2 p.m. yesterday. Unioil has 40 retail stations nationwide.

“Unioil decided to institute a price cutback due to the current market positioning relative to diesel prices,” Medina-Cue said. “This is also our gift to the public who are one with the celebration of the Chinese New Year today.”

With the latest rollback, Unioil’s Pure Diesel Plus B1 price now stands at P28.97 per liter and P37.68 for kerosene. Prior to the rollback, diesel was sold at P30.97 per liter while kerosene was sold for P39.68.

“To summarize, Unioil’s rollback from July 31, 2008 to Dec. 24, 2008 was a total of P26.50 for Pure Diesel Plus B1, P27.52 on Quantum and P27.52 for unleaded gasoline, a total of 15 price adjustments last year,” the Unioil official said.

“If we were to add the latest rollback of Jan. 26, 2009 for Pure Diesel Plus B1, this would translate to a total of P28.50 accumulated reductions, a true milestone because the diesel pricing crossed the 50 percent reduction level in Unioil’s retail pump prices,” he said.

Medina-Cue said the latest movement is also proof of the company’s commitment to sell high-quality petroleum products at affordable and competitive prices.

“At the end of the day, Unioil is not only a company with a mission to sell petroleum products but also a company with conscience. We are all consumers here,” he added.

“Unioil chose to be a corporate responsible company that would give fair prices to the buying motorists,” Medina reiterated.

He said Unioil will always give the public the real prices as determined by market competition, supply, and international prices for the ultimate benefit of the consuming public.

Meanwhile, Consumer and Oil Price Watch (COPW) chairman Raul Concepcion said oil companies should implement an P8 per liter rollback this month.

“I’m standing pat on my position that the total rollback for the month of January should be P8 per liter for diesel and gasoline,” he said.

COPW had expressed its willingness to sit down with the oil companies and compare and reconcile their respective data and computation to dispel doubts and confusion on price movements.

Concepcion also urged the Department of Energy (DOE) to remain vigilant in safeguarding the consumers’ welfare.

“The DOE must be the final arbiter of what price is fair to the consumer,” he said.

“The DOE has the authority, as provided by the safeguard provisions of the Oil Deregulation Law, to require oil companies to submit the volume and value of their shipments as they arrive,” Concepcion added.