Oil companies roll back prices of gasoline and diesel
Posted on September 28th, 2009
A rollback on fuel prices has been enforced by major oil player Pilipinas Shell last Monday. The rollback which came in the aftermath tropical storm Ondoy’s wrath that left most of Luzon swamped in flood, took effect at 6 p.m. on Monday. Shell has cut P1 off every liter of gasoline and 50 centavos off each liter of diesel.
Shell Spokesperson Bobby Kanapi said, in addition to the rollback of prices, he also assured that all the prices of their lubricants being sold at Shell retail stations nationwide would not increase until the end of October, this is to help consumers get through these trying times.
Likewise, Chevron Philippines (formerly Caltex), Petron Philippines, and independent firms Seaoil Philippines and Thailand-based PTT Philippines also reduced the prices of their gasoline and diesel, also by P1 and 50 centavos per liter respectively.
Seaoil’s rollback took effect at the same time with Shell at 6 p.m. on Monday, Petron at 10 p.m., Chevron’s rollback took effect at 12:01 a.m. Tuesday and PTT reduced it prices later on Tuesday at 6 a.m.
The rollback of prices was due to lower Mean of Platts Singapore (MOPS) prices. As of September 21, the Department of Energy (DOE) said the average price of Dubai crude dropped to $68 per barrel this month from$71 a barrel. The average price of MOPS-based unleaded gasoline dropped to $77 a barrel this month from $82 a barrel in August, added the DOE.
Meanwhile, Petron, Shell and Total (Philippines) Corp. announced earlier that their retail stations in Metro Manila are ready to accept donations for the victims of typhoon Ondoy. Petron added that it is coordinating with the National Disaster Coordinating Council, the Private Sector Disaster Management Network, Corporate Network for Disaster Response, Department of Social Welfare and Development and Tulong Para sa Pinoy Relief Operations to ensure that its efforts reach those in need immediately.
Petron, through its Petron Foundation, also asks people to call 0917-5672307 and look for Malu Erni to know how they can help.
