Petron follows suit, rolls back gasoline, diesel prices
MANILA, Philippines - Oil giant Petron Corp. has rolled back anew its prices for premium gasoline by 65 centavos and regular gasoline by 50 centavos per liter.
Diesel price was slashed by 40 centavos per liter while kerosene dropped by 25 centavos per liter, Petron said.
Pilipinas Shell Petroleum Corp., Seaoil Philippines and Flying V earlier rolled back their pump prices due to lower oil prices in the international market.
On April 15, oil companies slashed prices of premium gasoline by P1 per liter, kerosene by 90 centavos per liter, and diesel and regular gas by 70 centavos per liter.
“Dubai crude price has fallen by an average of about $2 per barrel compared to previous week, dragged down by prospects of weaker crude demand from China, and also due to renewed worries about the eurozone’s debt woes and weaker oil demand in the United States,” the Department of Energy (DOE) said.
Since the start of the year, there were already 12 oil price increases as against five price reductions.
As of April 15, net increase for gasoline and diesel stood at P5.85 per liter and P2.54 per liter, respectively, data from DOE showed.
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