Oil Firms to Roll Back Pump Prices Tuesday

Oil firms are set to decrease pump prices Tuesday.

In separate advisories Monday, Pilipinas Shell Petroleum Corp., Seaoil Philippines Inc. and Flying V will reduce gasoline prices by 65 centavos per liter and diesel prices by PHP1.20 per liter on November 8.

Phoenix Petroleum Philippines, on the other hand, will roll back gas prices by 65 centavos per liter and diesel prices by PHP1 per liter.

Shell, Seaoil and Flying V will also lower kerosene prices by PHP1 per liter.

Seaoil and Flying V will implement the price movements at 12:01 a.m., while Shell and Phoenix will apply the changes at 6 a.m.

According to the energy department’s oil price monitor, diesel prices in Metro Manila currently range from PHP27.40 to PHP30.97 per liter and have a common price of PHP28.30 per liter.

Gasoline, meanwhile, varies from PHP36.70 to PHP45.40 per liter. It has a common price of PHP43.38.

For the year, gasoline has had a net increase of PHP5.34 per liter and diesel a net increase of PHP7.63 per liter.

Last week, most oil firms increased gas and diesel prices by 10 centavos per liter. (PNA)
CVL/JLD