Friday, April 12, 2013

Major oil price rollback announced by oil firms

Effective 12:01 a.m. of Saturday, April 13, 2013, oil firms in the Philippines implemented a major rollback of oil prices. This rollback of oil prices is said to be an effect of the decline in world oil prices.

Petron Corp. implemented a P1.65 per liter reduction on the prices of their Blaze 100, XCA, Xtra Advance and Super Xtra, while 75 centavos were reduced on the price per liter of kerosene and 55 centavos per liter for Turbo Diesel and DieselMax.

Chevron Philippines also announced a P1.65 per liter rollback for gasoline and 55 centavos per liter of their diesel products. Pilipinas Shell Petroleum Corp. also implemented the same rates for their oil price rollback.

For independent oil player Flying V, they reduced the price of their gasoline by P1.50 per liter while cutting the of its biodiesel products by 50 centavos per liter.

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