Three more oil companies will rollback prices of their petroleum products.
Petron Corp., Chevron Philippines and Phoenix Petroleum said they will rollback their unleaded gasoline by P1 per liter.
Petron said they will also cut by 50 centavos per liter their regular gasoline and kerosene and 25 centavos per liter for diesel starting 6 a.m. of February 16.
Chevron also said they will rollback by 50 centavos per liter for their regular gasoline and kerosene and 25 centavos per liter for diesel products effective Monday midnight.
Phoenix Petroleum also said they are matching the price reduction to be implemented by their rivals.
As of February 15, the average Dubai crude, benchmark of local oil refiners, dropped to US $ 72 per barrel as against the US $ 77 per barrel in January 2010.
Unleaded gasoline at the Mean of Platts Singapore (MOPS), price gauge of oil importers, also dropped to US $ 85 per barrel as of February 15 compared to US $ 88 per barrel in January.
Diesel prices at MOPS also went down by US $ 4 per barrel from US$ 85 per barrel in January to US $ 81 per barrel.
Currently, domestic pump prices of gasoline was placed at P41 to P42 per liter; diesel at P31 to P34 per liter and kerosene at P39 to P45 per liter.
Seaoil Philippines was the first to implement the rollback followed by Shell Philippines and Eastern Petroleum. (PNA)
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