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Manila Bulletin devider Business devider Diesel prices cut by P0.25/liter; kerosene by P0.15/liter

Diesel prices cut by P0.25/liter; kerosene by P0.15/liter

Published Oct 26, 2020 01:08 pm

The oil companies rolled back diesel prices by P0.25 per liter; and kerosene products by P0.15 per liter, based on the announcements of the oil companies.



For gasoline, the industry players have not moved prices although in the earlier calculation of some companies, there should have been a reduction of between P0.03 to P0.15 per liter; but in the end, it’s the dictate of market forces that prevailed.



As of press time, the oil firms that already announced price reductions had been Pilipinas Shell Petroleum Corporation, Cleanfuel, PetroGazz and Seaoil; while the rest of the industry players are anticipated to follow.



In the weekly adjustment of prices, consumers had seen very slight movements in several weeks because prices in the world market had been more or less steady given the lingering demand slump because of the pandemic.



The Philippines is vulnerable to price fluctuations in the world market because it sources more than 90-percent of its requirements from global suppliers – either for crude to be processed in a refinery; or for the imported finished products.

Related Tags

Cleanfuel Pilipinas Shell Petroleum Corporation seaoil DOE PetroGazz
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