Danessa Rivera (The Philippine Star)
- June 12, 2018 - 12:00am
MANILA, Philippines — For the second
consecutive week, oil companies will roll back petroleum prices today amid a
decline in global crude prices.
Prices of gasoline will be reduced
by P0.55 per liter, diesel by P0.60 and kerosene by P0.60 per liter.
Caltex, Eastern Petroleum, Flying V,
Pilipinas Shell Petroleum Corp., Phoenix Petroleum Philippines Inc., PTT
Philippines Corp., Seaoil Philippines Inc. and Total Philippines Corp. will
implement their respective price adjustments starting at 6 a.m.
Petron Corp. and UniOil Petroleum
Philippines Inc. have yet to issue their respective advisories.
Global crude prices fell toward the
end of the trading week last week on concerns over surging US output and
falling demand in China, Reuters reported.
JP Morgan also cut its 2018 crude
forecast for West Texas Intermediate by $3 to $62.20 a barrel due to
geopolitical tensions and lingering risks of supply disruptions, Reuters said.
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