More oil firms cut pump prices by as much as P1.65 per liter on Tuesday to reflect the movement of prices in the world market last week.
Pilipinas Shell Petroleum Corp., Seaoil Philippines and PetroGazz issued separate advisories of their price cuts, while the other oil companies were expected to follow suit.
Please see fuel price rollback of Shell effective 6AM, Tuesday, March 3, 2020. Gasoline, P1.40 per liter, kerosene, P1.65 per liter and diesel, P1.60 per liter, Shell said in its advisory.
Phoenix Petroleum Philippines implemented the price cut at 6 a.m. Saturday ahead of the competition.
World oil prices slumped last week amid concerns that the coronavirus will affect the global economy. The coronavirus outbreak has already affected air travel, shipping and other businesses worldwide.
Meanwhile, Phoenix Petroleum rolled out another P20 per-liter offering for any of its fuel variants on March 1 from 9 a.m. to 11 a.m.
It was in celebration of Phoenix Petroleum winning the Marketing Company of the Year award at the 40th Agora Awards. The discounted rate was made available at 10 participating stations around the country.
We have received overwhelming responses and requests from Filipino motorists who wish to avail of our fuels at a very low price after we implemented our first P20 per liter promo, thus, we are offering a second round”•this time at other locations to reach other communities and on a weekend to give opportunities for those who were unable to gas up during the weekday run, Phoenix Petroleum chief operating officer Henry Albert Fadullon said.
This special treat is meant to celebrate how we rose to be a credible alternative brand over the years because of the support of our loyal customers, and consequently, show them how committed we are to continue to be their indispensable partner in their journey.”