August 1, 2016
LOWER prices at the
pump greeted motorists on the first day of the month.
In separate advisories,
oil firms said they would reduce gasoline prices by P0.75 per liter, kerosene
by P0.90 per liter, and diesel by P0.90 per liter.
This is the fifth
consecutive price rollback for gasoline and diesel.
Pilipinas Shell, PTT
Philippines and Phoenix Petroleum said the price rollback takes effect 6 a.m.
on Tuesday. Total Philippines will implement the same price adjustment
at 6:01 a.m. on August 2.
Flying
V and Eastern Petroleum would implement their price rollback in gasoline and
diesel at 12:01a.m. on Tuesday by the same amount.
The Department of
Energy last week anticipated the price rollback for this week. The price cut
reflects movements in the international oil market when supply is abundant, the
agency said. Petron Corp. implemented a P0.70-per-kilogram price rollback in liquified
petroleum gas (LPG) and P0.40 per liter for its auto LPG on August 1.
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