Pump prices of diesel down; gasoline unchanged

By: 4 years ago

MANILA, Philippines–Pump prices of diesel went down by 20 centavos per liter while those for gasoline were unchanged as war jitters in the Middle East eased and concerns about a global oversupply returned.

Seaoil Philippines was the first to implement the price reduction on Monday.

Following suit at 6 a.m. Tuesday were Petron, Pilipinas Shell, PTT Philippines, Total Philippines and Phoenix Petroleum.

Also, Petron, Shell and Seaoil reduced prices of kerosene by 30 centavos per liter. Brent crude oil, the global benchmark, fell from $68.91 per barrel on Jan. 6 to $65.12 per barrel on Jan. 13.

Dubai crude, the Asian bellwether, also fell from $64.75 per barrel on Jan. 6 to $64.29 per barrel as of Jan. 9.—Ronnel W. Domingo