MANILA, Philippines, March 21 ------ Motorists are in for a treat this week, as pump prices of gasoline, diesel and kerosene will be rolled back by as much as P2 per liter today.
In separate advisories, local oil companies said they would cut the prices of gasoline by P1.20 per liter; diesel, P1.85 per liter; and kerosene, P2 per liter. The following companies will be implementing price cuts today:
Seaoil (6 a.m.)
• Gasoline (-P1.20/L)
• Diesel (-P1.85/L)
• Kerosene (-P2/L)
Shell (6 a.m.):
• Gasoline (-P1.20/L)
• Diesel (-P1.85/L)
• Kerosene (-P2/L)
Cleanfuel (12:01 a.m.)
• Gasoline (-P1.20/L)
• Diesel (-P1.85/L)
Petro Gazz (6 a.m.)
• Gasoline (-P1.20/L)
• Diesel (-P1.85/L)
This comes a week after the prices of diesel and kerosene declined by P0.1 per liter and P0.60 per liter, respectively. The price of gasoline, meanwhile, jumped by P1 per liter last week. The adjustments, according to the Department of Energy, resulted in a year-to-date net decrease of P1 per liter in the price of diesel and P0.60 per liter for kerosene.
Local oil prices are anchored on the Mean of Platts Singapore (MOPS), which is widely used in Asia-Pacific markets because Singapore is a major hub for oil trading and refining in the region.
Source: inquirer.net
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