A WEEK after imposing an increase in pump prices of their petroleum products, big and small oil firms implemented a meager price reduction of gasoline and kerosene effective today, Tuesday.
In their separate advisories, major oil firms Chevron Philippines, Pilipinas Shell and Petron Corporation announced a price rollback of P0.25 per liter of their gasoline products, kerosene by P0.10 per liter while no adjustment of prices on diesel products.
The price adjustment takes effect at 6 a.m. Tuesday except for Chevron which is much earlier at 12:01 a.m.
Thai-led PTT Philippines, Petro Gazz, Total Philippines, Phoenix Petroleum, Eastern Petroleum and Unioil Philippines also announced the same price rollback of their gasoline products effective at 6 a.m.while Clean Fuel imposed the same price adjustment much earlier at 8:01 a.m. with no movement on prices of diesel products.
Energy sources said the price adjustment of local petroleum products was due to the softening of oil prices in the world market.Publication Source : People's Tonight