Oil firms roll back prices June 30

Rappler.com
Oil firms roll back prices June 30
Petron, Shell and Phoenix will roll back gasoline prices by more than a peso per liter

MANILA, Philippines – A further price rollback on gas, diesel, and kerosene prices is expected to take place on Tuesday, June 30.

Three oil companies, Petron Corporation (Petron), Shell Petroleum Corporation (Shell), and Phoenix Petroleum Philippines Incorporated (Phoenix) have confirmed their planned price reductions.

Petron confirmed on Twitter that it will reduce prices by P1.05 per liter for gasoline, P0.15 per liter for diesel, and P0.20 per liter for kerosene, effective 12:01 am June 30.

“These reflect movements in the international oil market,” Petron added.

Shell is reducing its prices by P1.05 per liter for gasoline, P0.15 per liter for diesel, and P0.20 per liter for kerosene also effective at 12:01 am June 30, according to a report by GMA news.

Phoenix said it would reduce prices by P1.05 per liter for gasoline and P0.15 for diesel effective 6 am June 30, the report added.

This will be the second successive rollback that the industry has seen after oil companies Petron, Shell, Phoenix, Seaoil and Flying V slashed prices for diesel products on June 23.

A jeepney drivers’ and operators’ association, however, said that these rollbacks have not gone far enough.

PISTON said that the price of diesel per liter should be at P20 ($0.44), while the price of gasoline per liter must be down to P26 ($0.58).

The average price of diesel remains at around P30 per liter ($0.66), while the average price of gasoline at around P46 ($1.02) per liter. – Rappler.com

$1 = P45.16

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.