Phillipines: Oil Companies Cut Prices
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Tuesday, 25 October 2011 |
Local oil companies have responded to movements in international oil prices by cutting prices of petrol. Chevron Philippines, Petron, Pilipinas Shell Petroleum, Seaoil Philippines and Phoenix Petroleum Philippines all adjusted prices of premium and unleaded petrol by 50 centavos per liter.
Diesel prices, however, were increased by P1 per liter, with kerosene also rising. Since the start of 2011, local companies have increased the cost of petrol and diesel by P7.20 per litre on average. According to the country’s Energy Department, the average price of unleaded gasoline now stands at P55.55 per litre, while diesel retails at P42.65 per litre on average.
Petrolworld 25102011
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