Oil companies set price adjustments on Oct 15

Aileen Cerrudo   •   October 15, 2019   •   441

A Filipino motorist (L) counts money as an attendant refuels his vehicle at a gasoline station in Mandaluyong City, east of Manila, Philippines. EPA/ROLEX DELA PENA

Oil companies have implemented price adjustment effective on October 15.

Diesel and kerosene prices will have a rollback of ₱0.10 and ₱0.40, respectively, while gasoline prices will go up by ₱0.25.

Oil firms including Flying V, PetroGazz, Phoenix Petroleum, Pilipinas Shell Petroleum Corp. and PTT Philippines have already implemented the said price adjustments on Tuesday at 6:00 a.m. —AAC

Oil companies to implement big-time oil price rollback in March

Aileen Cerrudo   •   February 28, 2020

Oil companies are expected to implement oil price reductions in March due to the low oil demand in the world market.

The current coronavirus disease (COVID-19) threat has affected crude oil demand globally after several countries implemented travel bans to prevent the spread of the disease.

Based on the advisory of oil industry players, diesel prices will drop from P1.50 to P1.80 per liter. Meanwhile, gasoline prices will drop from P1.20 to P1.50/liter.

According to the Department of Energy (DOE), the low demand prompted the members of the OPEC (Organization of the Petroleum Exporting Countries) to cut one million barrels per day in the supply.

However, Oil Industry Management Bureau (OIMB-DOE) Asst. Director Rhodela Romero said this might cause an oil price hike.

“Bumabalanse naman po ang pagbawas ng suplay (There is a balance in the supply cut),” she said.

READ: LPG rollback seen in March

Meanwhile, the Liquefied Petroleum Gas Marketers Association (LPGMA) might also implement a price rollback from P2-P4/kilogram on their LPG beginning March.—AAC (with reports from Joan Nano)

Oil price adjustments expected this week

Aileen Cerrudo   •   February 17, 2020

Oil companies will implement oil price adjustments starting Tuesday (February 18).

Effective on Tuesday at 6:00 a.m., gasoline prices of Shell and Seaoil will be up by P0.35/liter while kerosene and diesel prices will be both be reduced by P0.10/liter.

Petrogazz will have similar price adjustments for gasoline and diesel, also effective by Tuesday.

Meanwhile, on Wednesday (February 19) at 12:01 a.m., Cleanfuel will adjust their gasoline and diesel prices by P0.35/liter and P0.10/liter, respectively.—AAC (with reports from Grace Casin)

Another oil price cut expected this week

Aileen Cerrudo   •   February 10, 2020

Several oil companies will implement another oil price cut this week.

Seaoil already implemented their price reduction on Monday (February 10) at 6:00 a.m. Gasoline prices went down by P0.30 per liter, diesel by P0.60 per liter and kerosene prices by P1.40 per liter.

Shell will implement similar price reduction effective on Tuesday (February 11) at 6:00 a.m. Petro Gazz will also implement a P0.30/L rollback on gasoline and P0.60/L rollback on diesel which will also be effective on Tuesday.

Meanwhile, Cleanfuel and Phoenix Petroleum already had their oil price reduction implemented last Sunday (February 9) and Saturday (February 8), respectively. Their gasoline prices were also down by P0.30 per liter while diesel prices were down by P0.60 per liter.

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