Big time rollback as oil prices fall by almost P2 as August ends | ABS-CBN
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Big time rollback as oil prices fall by almost P2 as August ends
Big time rollback as oil prices fall by almost P2 as August ends
MANILA (UPDATE 2)-- Oil prices are falling in the last week of August.
MANILA (UPDATE 2)-- Oil prices are falling in the last week of August.
Oil companies announced the following decreases in oil prices effective August 27, Tuesday:
Oil companies announced the following decreases in oil prices effective August 27, Tuesday:
SHELL PILIPINAS, CALTEX, PETRON (effective 6 a.m.)
Gasoline - P1.15/liter decrease
Gasoline - P1.15/liter decrease
Kerosene - P1.85/liter decrease
Kerosene - P1.85/liter decrease
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Diesel - P1.90/liter decrease
Diesel - P1.90/liter decrease
CLEANFUEL (effective 12:01 a.m.)
Gasoline - P1.15/liter decrease
Gasoline - P1.15/liter decrease
Diesel - P1.90/liter decrease
Diesel - P1.90/liter decrease
PETROGAZZ, JETTI PETROLEUM (effective 6 a.m.)
Gasoline - P1.15/liter decrease
Gasoline - P1.15/liter decrease
Diesel - P1.90/liter decrease
Diesel - P1.90/liter decrease
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Other oil firms are expected to make similar announcements within the day.
Other oil firms are expected to make similar announcements within the day.
Energy Assistant Director Rodela Romero said that the main reason for the price drop is the weaker demand for fuel worldwide. The strengthening of the peso against the US dollar also contributed to the rollback.
Energy Assistant Director Rodela Romero said that the main reason for the price drop is the weaker demand for fuel worldwide. The strengthening of the peso against the US dollar also contributed to the rollback.
DIESEL NOW AROUND P40
DIESEL NOW AROUND P40
In some areas in Metro Manila, diesel prices have now gone down to the P49/L level, but with the almost P2/liter reduction tomorrow, diesel will retail at over P47/L, the lowest in Metro Manila.
In some areas in Metro Manila, diesel prices have now gone down to the P49/L level, but with the almost P2/liter reduction tomorrow, diesel will retail at over P47/L, the lowest in Metro Manila.
In Novaliches, there are lesser-known gas stations that sell P49.94/L diesel.
In Novaliches, there are lesser-known gas stations that sell P49.94/L diesel.
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Based on the Department of Energy's data, the cheapest diesel monitored is in Belfast, Fairview at P49.65/L while the most expensive is at P64.40 at Shell Cupang in Muntinlupa. For gasoline, the cheapest is at P53.70/L in Commonwealth, Quezon City while the most expensive is at P74.65 in the south.
Based on the Department of Energy's data, the cheapest diesel monitored is in Belfast, Fairview at P49.65/L while the most expensive is at P64.40 at Shell Cupang in Muntinlupa. For gasoline, the cheapest is at P53.70/L in Commonwealth, Quezon City while the most expensive is at P74.65 in the south.
Romero said due to competition from smaller independent players, diesel prices have gone down in several areas.
Romero said due to competition from smaller independent players, diesel prices have gone down in several areas.
LPG UP AGAIN IN SEPTEMBER
LPG UP AGAIN IN SEPTEMBER
Regasco President Arnel Ty expects another price increase in LPG prices by September 1.
Regasco President Arnel Ty expects another price increase in LPG prices by September 1.
Ty said that based on the contract prices last week, LPG prices in the international market increased by more than $20/metric ton. The final contract price will come out this Saturday but Ty estimates that the increase will hover between P1.50-P2.00/kilo or P16.50-P22.00/11 kg tank.
Ty said that based on the contract prices last week, LPG prices in the international market increased by more than $20/metric ton. The final contract price will come out this Saturday but Ty estimates that the increase will hover between P1.50-P2.00/kilo or P16.50-P22.00/11 kg tank.
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According to Ty, consumers must watch out for the October price change after Saudi Aramco, the major LPG supplier forecasts a steep price increase heading towards the winter season.
According to Ty, consumers must watch out for the October price change after Saudi Aramco, the major LPG supplier forecasts a steep price increase heading towards the winter season.
In the Philippines, LPG prices only move once a month, at the beginning of each month, reflecting movements in the international contract price of cooking gas.
In the Philippines, LPG prices only move once a month, at the beginning of each month, reflecting movements in the international contract price of cooking gas.
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