Oil companies roll back diesel and kerosene prices for the fourth straight week today amid oversupply in the international oil market.
MANILA, Philippines - Oil companies roll back diesel and kerosene prices for the fourth straight week today amid oversupply in the international oil market.
Gasoline prices will not change, oil firms said.
Pilipinas Shell Petroleum Corp. announced yesterday it would reduce kerosene prices by P0.15 per liter and diesel by P0.25 per liter effective 6 a.m.
Petron Corp. said it would slash P0.25 per liter on Turbo Diesel and DieselMax products, as well as P0.15 per liter on kerosene effective 12:01 a.m. “to reflect movements in the international oil market.”
In separate text advisories, SeaOil Philippines Inc. and Flying V said similar price cuts were implemented also at 12:01 a.m.
Phoenix Petroleum Philippines Inc. and PTT Philippines Corp. also said they would roll back diesel prices by P0.25 per liter effective 6 a.m.
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Eastern Petroleum Corp. would also decrease diesel prices by P0.25 per liter starting 12:01 a.m. while UniOil Petroleum Philippines Inc. would do the same effective 6:01 a.m.