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Three big oil firms cut prices

/ 09:28 AM May 09, 2011

MANILA—Good news will greet motorists on Sunday morning as Shell, Chevron Philippines and Petron will have price rollback on their products.

In an advisory, Shell will have a rollback on its diesel products by P1.75 per liter, kerosene by P2.00 per liter, unleaded gasoline by P0.50 per liter and regular gasoline by P1.25 per liter. Shell has sent the directive to its dealers to reflect the decline in international product prices.

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Chevron (formerly Caltex) Philippines will decrease its diesel prices by P1.75 per liter, kerosene by 2.00 per liter; Gold, Gold E10, Silver and Silver E10 by P0.50 per liter and Regular by P1.25 per liter (all VAT inclusive).

Shell and Chevron’s price rollback is effective as of Sunday, 12:01 a.m.

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On the other hand, Petron will implement the following price rollbacks (VAT inclusive) effective 6:00 a.m. Sunday: P1.75 per liter for diesel, P2.00 per liter for kerosene, P1.25 per liter for regular gasoline and, P0.50 per liter for premium gasoline./inquirer

This is the fourth time since the beginning of the year that oil companies had cut fuel prices. The oil companies, however, have jacked up fuel prices 15 times since January, with the increases totaling more than P11.45 per liter for premium gasoline and P10.10 a liter for diesel. /INQUIRER

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