Oil companies are set to lower their oil prices to almost P2 beginning Tuesday (March 3) after crude prices drop in the global market due to the coronavirus threat.
Seaoil and Shell will implement their oil price rollbacks on Tuesday at 6:00 a.m. Their gasoline prices will drop by P1.40 per liter, diesel prices will drop by P1.60/liter while their kerosene prices will be reduced by P1.65/liter.
Petro Gazz will also lower their oil prices to P1.40/liter in gasoline and P1.60/liter in diesel.
Meanwhile, Cleanfuel and Phoenix Petroleum already implemented their reduced prices during the weekend. Diesel and gasoline prices in Phoenix Petroleum and Cleanfuel dropped by P1.60/liter and P1.40/liter, respectively.
Prices of Liquefied Petroleum Gas (LPG) in Petron also dropped on Monday (March 2) by P3.90/kilogram. Auto LPG, meanwhile, had its prices drop by P2.20/liter.—AAC (with reports from Grace Casin)