Danessa Rivera (The Philippine Star)
- March 1, 2020 - 12:00am
MANILA, Philippines — More oil
companies announced massive price cuts this week.
In a text advisory, Seaoil
Philippines said it would reduce gasoline prices by P0.90 per liter, diesel
prices by P1.70 per liter and kerosene prices by P1.65 per liter effective 6
a.m. today.
Pilipinas Shell Petroleum Corp. and
Petro Gazz said the same price cuts would be implemented starting 6 a.m. on
Tuesday.
Meanwhile, Cleanfuel rolled back
pump prices on Sunday afternoon.
On Saturday, Phoenix Petroleum
Philippines Inc. decreased the price of diesel by P1.70 per liter and of
gasoline by P0.90 per liter.
It said the early price cut is in
order for the public to avail of cheaper fuels earlier than usual.
Other oil companies have yet to
announce their respective price adjustments as of this writing.
International oil prices have
declined for five days since last week amid concerns that the US-China trade
deal may not spur enough demand, Reuters reported.
But oil prices recovered on
Thursday, following progress in the US-China trade deal.
Last week, local petroleum companies
reduced diesel prices by P0.20 per liter and kerosene prices by P0.30 per
liter.
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