By MYRNA M. VELASCO
Owing to the movements in global oil prices, the local oil companies have implemented an increase of P0.50 per liter on their gasoline, diesel and kerosene prices; but rolled back the price of liquefied petroleum gas by P0.50 per kilogram.
Most of the oil firms adjusted their pump prices at the strike of midnight on Saturday (March 29).
The cutback in LPG prices, which will amount to P5.50 for the standard 11-kilogram cylinder, was "due to the expected drop in international contract prices," the oil firms noted.
The companies which advised of their LPG price rollback were Petron Corporation, Pilipinas Shell Petroleum Corporation and Total Philippines.
Those which sent advisories on pump price increases were Unioil, Chevron Philippines, Total, Shell and Petron.
Petron, in particular, has noted that the Dubai crude (which serves as the pricing reference for Asian refiners) was higher by .62 per barrel this month as against the February average of $ 90.02 per barrel.
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