Oil price rollback set on Dec. 10

Marje Pelayo   •   December 9, 2019   •   407

MANILA, Philippines – Pump price cut will take effect Tuesday (December 10) as announced by several oil firms.

At 6:00 AM tomorrow, Shell will slash its fuel prices by P0.40 per liter of gasoline and kerosene.

The price of diesel will remain, according to Shell.

Petron, meanwhile, will cut P0.30 per liter of gasoline and kerosene and P0.10 per liter in diesel.

Cleanfuel on Sunday (December 8) already dropped P0.40/L from their current price for gasoline and P0.10/L from diesel.

This is the second week that oil companies imposed a price cut due to the adjustment in pump prices in the international market.

Oil prices tumble amid demand worries

UNTV News   •   June 12, 2020

Oil prices dropped considerably on Thursday as investors grew concerned over a re-acceleration in virus infections, which would dampen the outlook for crude demand.

The West Texas Intermediate (WTI) for July delivery shed 3.26 U.S. dollars, or 8.23 percent, to settle at 36.34 dollars a barrel on the New York Mercantile Exchange. The decline marked the biggest one-day loss since April 27 and the settlement was the lowest since June 1, according to Dow Jones Market Data.

Brent crude for August delivery dipped 3.18 dollars, or 7.62 percent, to close at 38.55 dollars a barrel on the London ICE Futures Exchange.

The moves came after coronavirus cases increased in some U.S. states that are reopening up from lockdowns.

More than 2 million confirmed COVID-19 cases have been reported in the United States, with over 113,000 deaths as of Thursday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.

Oil prices were also dragged as data showed a surprise build in U.S. inventories.

U.S. crude oil inventories increased by 5.7 million barrels during the week ending June 5, the U.S. Energy Information Administration said Wednesday. (Reuters)

Oil price rollback set for April 7

Robie de Guzman   •   April 6, 2020

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.

Big time oil price cut set for March 24

Robie de Guzman   •   March 23, 2020

MANILA, Philippines – Oil companies on Monday announced another round of fuel price rollback to reflect the adjustments in the international oil market.

In separate advisories, Petron Corporation, Chevron Philippines Inc. (Caltex), and Flying V said they will slash the prices of gasoline and kerosene by P3.50 per liter, and diesel by P2.00.

PTT Philippines and Seaoil also announced the implementation of the same amount of price rollbacks.

The fuel price decrease will take effect on March 24, Tuesday.

This is the second week that oil firms implemented hefty price cuts.

The drop in local pump prices was triggered by the decline of prices in the world market.

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