4 oil firms cut diesel prices by P5/L; gas, kerosene by P2/L

(Updated 9:40 a.m.) MANILA, Philippines – The country’s three biggest oil firms early Thursday morning rolled back prices of their diesel products by P5 per liter, and gasoline and kerosene products by P2 per liter. An independent oil player, meanwhile, is set to match the rollback by noon. In an interview on dzBB radio, Pilipinas Shell vice president for communications Roberto Kanapi said the price cut on its pump prices took effect 7 a.m. Thursday. Shortly after Shell's announcement, Petron followed suit by matching Shell’s rollback rates and schedule, a separate dzBB report said. For his part, Chevron Philippines ’ corporate communications manager Antonio Nebrida told GMANews.TV that their P5 per liter reduction on diesel and P2 per liter reduction on gasoline and kerosene took effect 7 a.m. Thursday as well. Meanwhile, Eastern Petroleum likewise announced it will slash its diesel prices by P5 per liter and its gasoline and kerosene prices by P2 per liter. The rollback will be effective 12 noon Thursday. For its part, independent player Seaoil said it implemented another diesel price reduction by P2 per liter, bringing to P4 its total diesel price cut for Thursday. In a text message sent to GMANews.TV, Seoail president Glenn Yu said the second P2 per liter price cut on diesel took effect 8 a.m. Thursday. Its first installment took effect 12:01 a.m. Thursday. Seaoil’s 12:01 a.m. Thursday rollback also included a P2 price reduction on gasoline and kerosene. As of posting time, other oil firms have yet to announce if they will implement a rollback on their pump prices. For the month of October, Shell, Petron, Chevron, and Eastern Petroleum have reduced their diesel prices by P8 per liter and their gasoline and kerosene prices per P5 per liter. For its part, Seaoil has reduced its diesel prices by P9 per liter and gasoline and kerosene prices by P5 per liter for the month of October. The oil firms’ price reductions were implemented amid transport groups’ call for a substantial price cut and commuters groups’ clamor for a fare rollback. - GMANews.TV