By: Ronnel W. Domingo - 01:05 AM
March 21, 2017
Local oil firms are implementing yet
another round of price cuts, this time with bigger reductions of 80 centavos
per liter for gasoline and P1.10 for diesel effective today.
As of press time, companies that
have announced price cuts included Pilipinas Shell Petroleum Corp., Flying V,
PTT Philippines Corp., Phoenix Petroleum Philippines Inc., Eastern Petroleum
Corp. and Petron Corp.,
Shell, Flying V, and Petron also
said they were reducing the prices of kerosene by 1.20 centavos per liter.
Monitoring by the Department of
Energy (DOE) showed that in Metro Manila, the latest price changes would bring
prices of gasoline to the range of P38.60 to P47.29 a liter at the pump.
Prices of diesel would now range
from P26.95 to P32.85 a liter. Kerosene prices would now be in the range of
P31.65 to P41.43 per liter.
According to the DOE, international
oil prices have sustained a downward trend even as the agreement among crude
oil producers had helped “improve” the supply and demand situation.
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