Oil prices to drop this week

Robie de Guzman   •   June 3, 2019   •   1491

Local oil prices will significantly decrease this week.

In an advisory, oil firms said the prices of gasoline will be reduced by P1.75 per liter, diesel by P1.05 and P1.00 for gasoline.

The price rollback will take effect on June 4, Tuesday, but Phoenix Petroleum adjusted their prices around noon on Saturday.

The oil price slash was implemented to reflect the prices in the international world market.

This is the second straight week that oil companies will reduce fuel prices.

Last week, the price of gasoline was slashed by P0.35 per liter, diesel by P0.45 and kerosene by P0.60 a liter.

Oil price rollback set for January 28

Robie de Guzman   •   January 27, 2020

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.)

Diesel, kerosene prices to go up on Dec. 24

Robie de Guzman   •   December 23, 2019

MANILA, Philippines – Local prices of petroleum products will increase this week.

In separate advisories, Pilipinas Shell Petroleum Corp. and SEAOIL Philippines announced that the price of their diesel will go up by P1.15 per liter, and kerosene by P1.05.

Gasoline prices will remain unchanged.

Petro Gazz also said it will implement the same amount of adjustment except for kerosene which it does not carry.

The oil price hike is effective 6 a.m. on Tuesday, December 24.

Other oil companies have yet to announce any price movement for this week.

This marks the second consecutive week of price hikes for diesel and kerosene.

Oil price rollback set on Dec. 10

Marje Pelayo   •   December 9, 2019

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.

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