Oil firms roll back gas price by 35 centavos

MANILA, Philippines - Pilipinas Shell Petroleum Corp. and Seaoil Petroleum Corp. announced yesterday they would reduce their pump price for unleaded gasoline by 35 centavos per liter and increase their price for regular gas by 50 centavos per liter effective today.

The two oil firms also said they would raise kerosene price by 25 centavos per liter as a result of price adjustments in the international market.

The other major oil firms have yet to issue their advisories on whether to roll back or increase their pump prices.

A week ago, oil firms increased their prices by P1.10 per liter for diesel, 60 centavos per liter for regular gasoline, 30 centavos for unleaded gas, and P1 for kerosene.

A week before, oil firms raised the prices for premium gasoline by P2 per liter, regular gasoline by P1.50 and diesel and kerosene by 80 centavos per liter.

At the start of July, pump prices were reduced by an average 50 centavos per liter for diesel, gasoline and kerosene products.