Oil firms clip prices

April 01, 2019
Oil Price

AFTER 12 consecutive hikes of gasoline prices and 10 for diesel since January, major and independent oil firms will decrease slightly prices of petroleum products effective today.

Pilipinas Shell, PTT Philippines, Petro Gazz, Total Philippines and Unioil were the first oil companies to announce that they will lower prices of their gasoline by 10 centavos per liter and diesel by 30 centavos per liter effective at 6 a.m. today.

Seaoil and Pilipinas Shell also announced that they will lower prices of kerosene by 20 centavos per liter while other independent oil firms only announced price cuts for gasoline and diesel since they do not sell kerosene products.

Petron Corporation, Chevron Philippines and Phoenix Petroleum Philippines also cut prices of their petroleum products at the same level while other oil firms who have yet to announce their respective price adjustments are expected to follow suit.

Energy sources said the minor decrease of petroleum products reflects movements in the international oil market.

Meanwhile, consumers and motorists using auto liquefied petroleum gas (LPG) will see higher prices of cooking gas and auto LPG this month after Petron Corporation announced that they implemented a price adjustment of P1.25 per kilo of Gasul Fiesta gas equivalent to P13.75 for the standard 11-kilogram cylinder as of 12:01 yesterday.

Petron also announced an increase of 70 centavos per liter for their auto LPG effective yesterday. The increase reflects the international contract price of LPG for the month of April.