Chevron to roll back oil prices by P1/L

MANILA, Philippines – Chevron Philippines Inc. on Thursday announced it will match the P1 price cut on oil products implemented by three other oil companies. In a text message sent to reporters, Chevron (formerly Caltex) corporate communications manager Antonio Nebrida Jr said that the P1 per liter price reduction on gasoline, diesel, kerosene will take effect 12 noon Thursday. Earlier in the day, Pilipinas Shell, Petron, and Eastern Petroleum announced that their P1 per liter roll back on all their petroleum products took effect as of 6 a.m. Transport groups, however, remained dissatisfied with the move. Pinagkaisang Samahan ng Tsuper at Operator Nationwide (Piston) secretary-general George San Mateo said that with world prices of oil now below $75/barrel, diesel prices should be P37/liter. - GMANews.TV