By
Lenie Lectura- July 23, 2018
MOST oil firms will
reduce the price of petroleum products effective Tuesday morning.
In separate
announcements, they will roll back the price of gasoline by P0.70 per liter,
diesel by P1 per liter and kerosene by P1.25 per liter.
“This is to reflect
movements in the international petroleum market,” Seaoil Philippines said.
Seaoil will implement
the price decrease at 12:01 am of July 24 while Pilipinas
Shell, Phoenix Petroleum, PTT Philippines will implement their respective price
adjustments at 6am of Tuesday.
Eastern Philippines,
meanwhile, slashed the price of unleaded and premium gasoline by P0.80 per
liter at 12 noon of July 23. It also reduced diesel price on the same
day by P1 per liter.
Other oil firms will
follow suit.
Last week oil companies
jacked up the price of gasoline by P0.30 per liter but rolled back the price of
diesel by P0.15 per liter.
Local pump prices are
mainly influenced by the crude prices in the world market, the peso-dollar
exchange rate and taxes.
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