MANILA, Philippines – Local pump prices of petroleum products are set to go down this week.
In separate advisories, Chevron, Total Philippines, Cleanfuel, Petro Gazz, PTT Philippines, Pilipinas Shell, Petron, and Seaoil said they will slash the prices of diesel by P0.40 per liter, and gasoline by P0.30 a liter.
Chevron, Seaoil, Petron, and Shell also announced a price rollback for kerosene by P0.35 a liter.
The price cut will take effect on Tuesday, January 28.
This is the third consecutive week that oil companies reduced prices of diesel and kerosene, the second consecutive week for gasoline price cute.
According to the Department of Energy (DOE), the latest price rollback reflects recent developments in the international market.
The novel coronavirus outbreak in China also shaved oil prices due to a slowdown in air travel.
“Nagkaroon ng impact. Kasi ‘yong mga may– although hindi nagsabi si World Health Organization na huwag mag-travel but may mga consideration na iniwasan nang mag-travel,” Oil Industry Management Bureau Assistant Director Rodela Romero said.
Several Chinese cities, including Wuhan which is the epicenter of the virus, were recently ordered lockdown as part of the efforts to contain the spread of novel coronavirus.
Direct flights to and from Wuhan City were also suspended over fears of the previously unknown coronavirus strain.
“Nagkakaroon siya ng impact, kung bababa ‘yong demand doon sa malaking bansa na mayroong kaganapan whether it’s weather disturbance o mayroong health considerations eh napu-pull down ‘yong demand, and with the lowering of the demand, bumababa din y’ong presyo,” Energy Undersecretary Felix William Fuentebella said.
The death toll from the novel coronavirus strain has spiked to 80 on Monday with hundreds of new infections despite massive travel lockdown and quarantines in China.
After its first detection in Wuhan City, the virus has since spread to neighboring towns and other countries, with confirmed cases of infection reported as far as the United States, Canada, France, Australia, Nepal, as well as in Asian cities of Taiwan, Japan, Singapore, South Korea, Hong Kong, Thailand, and Vietnam. – RRD (with details from Correspondent Asher Cadapan Jr.)
MANILA, Philippines – Oil companies have announced another price rollback on petroleum products this week to reflect the movement in the international oil market.
In separate advisories, Pilipinas Shell Corporation, Chevron Philippines Inc. (Caltex), and SEAOIL Philippines Inc. said they would slash prices for their gasoline, diesel and kerosene products by P0.35 per liter and P0.70 per liter and P0.75 per liter respectively.
Phoenix Petroleum Philippines and Petro Gaxx will also implement the same price cut except for kerosene which they do not carry.
The oil price rollback will take effect on Tuesday, April 7.
This is the fifth consecutive week that oil firms implemented price cuts.
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