Phoenix Petroleum Philippines rolled back gasoline prices by P1.75 per liter and P1.05 per liter for diesel effective 12 noon, June 1 to reflect the movement of prices in the world market.
READ: Phoenix leads oil price rollback: P0.35/liter
Phoenix implemented the rollback ahead of the other oil firms who usually adjust prices every Tuesday.
This is the second consecutive oil price rollback after the oil firms cut the price of P0.35 per liter and diesel by P0.45 per liter last week.
Phoenix also announced a price cut for cooking gas and autoLPG to reflect the lower contract price of liquefied petroleum gas in the international market.
“Please be informed that Phoenix LPG Phils. Inc. will decrease the prices of Phoenix Super LPG by P6.25 per kilogram and Auto LPG by P3.45 per liter effective 12:01 a.m. of 01 June 2019,” Phoenix said.
Petron Corp. and Isla LPG also announced price cuts of its LPG products over the weekend.
Petron announced on Friday it will cut the price of its cooking gas by P6.25 per kilo or P68.75 per kilo effective June 1.
Petron also cut autoLPG prices by P3.45 per liter.
Isla Petroleum, for its part, said it is “decreasing our Solane-branded LPG price by P6.09/kg VAT inclusive effective Jun 1, 2019 at 6 a.m. “
This is the second oil price rollback after the oil firms cut the price of LPG last May 1 by P0.20 per kilo equivalent to P2.20 per 11-kilo tank.
Prior to the increase, an 11-kilo LPG tank sells from P613.50 to P798 per 11-kg tank in Metro Manila.
Gasoline sells from P50.85 to P61.96 per liter, diesel from P41.10 to P49.74 per liter and kerosene from P47.92 to P55.65 per liter, as of the latest monitoring of the Department of Energy.
The oil firms implement price adjustment for LPG on a monthly basis while gasoline, diesel and kerosene prices are adjusted every Tuesday.
READ: Energy issues circular on unbundling of petroleum product prices
