Wednesday, 27 June 2012 00:00
At least two oil firms announced on Monday a price-rollback on their petroleum products.
Major oil player Pilipinas Shell Petroleum Corp. and independent player Eastern Petroleum Philippines cut their respective prices of premium gasoline (including unleaded) by P1.80 per liter, regular gasoline by P1.40 per liter and diesel and kerosene by P1 per liter effective 12:01 a.m Tuesday.
The latest rollback would be the local oil firms' eleventh in as many weeks.
Last June 18, big and small oil companies reduced their pump prices by uniform amounts, specifically P1.20 per liter on premium and unleaded gasoline, P1.10 per liter on regular gasoline, P0.50 per liter on diesel and P0.35 per liter on kerosene.
As of Monday, the average fuel prices in Metro Manila stood at the following levels: diesel, P40 per liter; unleaded P50 per liter and kerosene, P51 per liter.
Other oil firms are expected to follow suit.
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