By Lenie Lectura - October 29, 2019
A jeepney driver waits to be
attended at a gasoline station in Makati City in this BusinessMirror file
photo.
OIL firms reduced the price of
gasoline and diesel for the second consecutive week.
Gasoline prices will go down by
P0.45 per liter, while diesel price will be slashed by P0.10 per liter.
There is no change in kerosene prices.
Phoenix Petroleum Corp., Pilipinas
Shell, Petro Gazz and Seaoil Philippines said Monday afternoon that their
respective price adjustments will take effect Tuesday morning at 6 a.m.
Other oil firms are expected to
follow suit.
Last week, gasoline prices went down
by P0.25 per liter and diesel by P0.10 per liter.
The Department of Energy (DOE) has
kept close watch of fuel pricing since the September 14 drone attacks damaged
key oil facilities in Saudi Arabia since the Philippines imports nearly all of
its crude oil requirements.
The agency earlier issued show-cause
orders against 13 oil firms in view of the apparent difference in the oil price
rollback calculations.
Local oil companies earlier reduced
gasoline price by P1.45 per liter, diesel by P0.60 per liter and kerosene by P1
per liter.
However, the DOE said the price
reduction for gasoline was short by 22 centavos per liter, while the rollback
for diesel was short by .06 centavos.
The DOE is still collating the reply
of the oil firms.
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