MANILA, Philippines – The “Big Three” oil companies will slash gasoline and kerosene prices by P1 per liter starting 12:01 Saturday, while small oil player Seaoil is bringing down its gasoline price by P2 per liter.
A report by radio dzBB quoted SeaOil president Glenn Yu as saying the rollback takes effect at 10 p.m. Friday.
Half-an-hour before SeaOil’s announcement, Pilipinas Shell Petroleum Corp. announced a P1 per liter reduction in its gasoline and kerosene prices effective midnight Friday.
In a text message to GMA News, Roberto Kanapi, Shell vice president for corporate communications, said: “We are pleased to advise (the public) that Shell will roll back prices of gasoline and kerosene by P1 per liter effective 12:01 of November 8.”
A separate report on radio dzBB later said Petron Corp. was also rolling back its gasoline and kerosene prices by P1 per liter starting Friday midnight.
Chevron Philippines’s corporate communications manager Antonio “Tobi” Nebrida, in a text message, likewise announced a P1 per liter rollback on gasoline and kerosene effect 12:01 a.m. Saturday.
Nebrida said the latest rollback would bring down gasoline prices to a range of P42-P45 per liter.
Seaoil spokesman Rey Jimenez the rollback is a result of the continued softening of international
prices. – GMANews