Oil firms cut pump prices anew

MANILA, Philippines - For the fourth consecutive week, oil companies reduced gasoline prices by P1.20 per liter, P0.25 per liter for diesel and P0.20 per liter for kerosene.

The adjustments took effect at midnight for some companies and this morning for others.

Pilipinas Shell Petroleum Corp. issued the first advisory followed by other oil firms such as Petron Corp., the country’s biggest oil refiner; Phoenix Petroleum and Seaoil Philippines.

“Petron will implement the following price rollbacks effective 12:01 a.m., July 29: P1.20 per liter for Blaze 100 Euro 4, XCS, Xtra Advance and Super Xtra; P0.25 per liter for Turbo Diesel and DieselMax and P0.20 per liter for kerosene,” Petron said.

Phoenix Petroleum Philippines issued a similar advisory.

“Phoenix will decrease the prices of gasoline by P1.20 per liter and diesel by P0.25 per liter effective 6 a.m. of July 29 to reflect the continued decline in the prices of refined petroleum products in the international market as well as the appreciation of the peso,” Phoenix said yesterday.

Seaoil Philippines said its adjustments were scheduled to take affect at midnight.