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Oil firms to cut diesel prices

MAJOR and independent oil firms will slash prices of their diesel products starting today, Tuesday.

Pilipinas Shell and Petron Corporation in separate advisories announced a meager rollback of prices of diesel by P0.35 per liter and kerosene by P0.45 per liter effective at 6 a.m. Tuesday with no movement on the prices of gasoline products. Caltex Philippines Inc. also announced the same price adjustments much earlier at 12:01 a.m.

Independent oil firms PTT Philippines, Petro Gazz, Seaoil Philippines, Unioil, Total Philippines and Phoenix Petroleum will implement rollback of pump prices of their diesel products, also by P0.35 centavos per liter at 6 a.m., with no movement on gasoline prices.

This is only the second time that oil companies imposed a meager rollback of pump prices since February.

This reflects movements in the international oil market,” said PTT Philippines Corporate Communication Officer Jhay Julian said.