LPG, pump prices slashed anew-A A +A
Tuesday, February 16, 2010
PRICES of gasoline and cooking gas were reduced Tuesday to reflect falling world market prices.
Pilipinas Shell’s vice president for communications Roberto Kanapi said they would cut prices of unleaded gasoline by 1 per liter; regular gasoline by 50 centavos, and diesel and kerosene by 25 centavos per liter.
The rollback would take effect at 12:01 a.m. Tuesday.
Seaoil Philippines also cut its kerosene and diesel prices around 6 p.m. Monday.
Kerosene costs were reduced by 50 centavos per liter while 25 centavos per liter was slashed from its diesel prices.
The independent oil player had earlier implemented a P1 per liter rollback on all their gasoline products after midnight Monday. The reduction covers premium, unleaded, and regular gasoline.
LPG price cut
For the third time this month, cooking gas retailers said they are set to reduce prices of Liquefied Petroleum Gas (LPG) Tuesday, a radio report said.
The price cut will also take effect on 12:01 a.m. due to decline in the contract price of LPG, Arnel Ty of the Liquefied Petroleum Gas Marketers Association (LPGMA) said.
For that matter, an ordinary 11-kilogram LPG tank that costs about P585 would be reduced to P579.
Tuesday’s rollback would be the third for the month, following the price cuts on February 2 and 8.
Ty earlier said consumers should expect further reductions on LPG prices within the month.
LPGMA members are composed of wholesalers, refillers, and retailers, which corner a third of the Luzon market. Its members include Omni Gas, Pinnacle Gas, Island Gas, Cat Gas, and Nation Gas.
Ty added that their products are about P50 to P60 cheaper than those sold by big oil companies.
As of posting time Monday, other oil players are yet to announce whether they will follow Shell, Seaoil, and LPGMA's move (Virgil Lopez/Sunnex)