Good news: oil firm slashes prices

May 04, 2019
Oil price hike

MOTORISTS were greeted with the good news of a price rollback implemented  yesterday by an independent oil firm.

Phoenix Petroleum Philippines said it implemented a P1 peso decrease of its gasoline products and diesel by 80 centavos per liter effective at 12 noon yesterday.

In its advisory, Phoenix Petroleum said the price adjustments of their products was the result of the decrease of oil prices in the international market.

The company said their early implementation of price rollback was meant to give motorists longer time to enjoy lower prices of gasoline and diesel products.

Like other independent oil firms, Phoenix Petroleum does not sell kerosene products.

Energy sources said local oil firms Petron Corporation, Pilipinas Shell and Chevron Philippines, small players  like PTT Philippines are likely to roll back their prices next week.