MANILA, Philippines - Oil firms announced yesterday another round of price cuts effective today.
Petron Corp., Pilipinas Shell Petroleum Corp., Chevron, owner of the Caltex brand, and independent players PTT Philippines, Seaoil Philippines and Phoenix Petroleum issued their respective price rollbacks of 90 centavos per liter for gasoline and diesel and P1.05 per liter for kerosene.
Petron implemented at 12:01 a.m. the following price rollback that includes 90 centavos per liter for Blaze 100 Euro 4, XCS, Xtra Advance and Super Xtra, 90 centavos per liter for Turbo Diesel and DieselMax.
“These reflect movements in the international oil market,” Petron, the country’s biggest oil refiner, said in its announcement.
PTT Philippines implemented rollback on prices of gasoline and diesel by 90 centavos per liter effective 12:01 a.m. on Tuesday.
Seaoil said the firm adjusted its pump prices effective 12:01 a.m. that include 90 centavos lower per liter for gasoline and diesel and P1.05 less per liter for kerosene.
The price cut is the third consecutive rollback this month after oil firms announced a price hike two weeks ago, which ended nine consecutive weeks of price rollbacks before that.