Diesel, gasoline prices rolled back

MANILA, Philippines — Phoenix Petroleum Philippines Inc. reduced diesel and gasoline prices yesterday to provide cheaper fuel options for motorists ahead of schedule.

Meanwhile, prices of cooking gas and auto liquefied petroleum gas (LPG) were raised at the start of the month, tracking the increase in the global market.

In a text advisory yesterday, Phoenix said it will roll back the price of gasoline by P1.40 per liter and diesel by P1 per liter effective 6 p.m. Friday.

This is “to afford motorists a longer period to avail of cheaper fuels,” the oil firm said. Fuel companies implement their weekly pump price adjustments every Tuesday.

Earlier this week, oil firms raised pump prices for the third straight week as the peso depreciated further against the dollar.

Gasoline prices were increased by P0.65 per liter, diesel prices by P0.35 per liter, and kerosene by P0.45 per liter last Tuesday.

On the other hand, domestic prices of cooking gas increased by at least P3 per kilogram yesterday morning.

In a text advisory, Eastern Petroleum said it hiked the price of EC Gas LPG by P3.30 per kilogram or P36.30 for an 11-kilo cylinder.

“Compared to competition, Eastern Petroleum’s LPG price hike is cheaper by P1.10 and P0.66 for every 11-kilo tank,” it said.

On Thursday night, Solane advised that it is increasing its LPG price by P3.36 per kg starting 6 a.m. Friday.

Petron also said its LPG prices will be increased by P3.40 per kilogram and AutoLPG by P1.90 per liter effective 12:01 a.m. of Friday. “These reflect international contract prices of LPG for the month of June,” Petron said.