UniOil rolls back oil prices by as much as P3/L - report

MANILA, Philippines – Small oil player UniOil will cut down prices of its petroleum products by as much as P3 per liter starting 2 p.m. Saturday, a radio report said. Manny Vargas of radio dzBB said UniOil’s gasoline prices will be slashed by P3 per liter, effectively bringing the price for premium gasoline to P48.51 by tomorrow afternoon. Prices for diesel and gasoline, meanwhile, will go down by P2 per liter, the same radio report said. The three biggest oil firms — Petron Corp, Pilipinas Shell Petroleum Corp, and Chevron Philippines Inc — brought down their gasoline, diesel, and kerosene prices by P1 per liter shortly after midnight Friday. On Wednesday, independent players Eastern Petroleum Corp and Seaoil Philippines cut back their oil prices by P0.50 per liter. They later implemented another P0.50 per liter rollback in their prices. - Johanna Camille Sisante, GMANews.TV