The country’s oil firms cut pump prices starting 6 a.m. Tuuesday, ending eight weeks of consecutive oil price hikes.
The oil firms cut the price of gasoline by P0.65 per liter for gasoline and P0.40 per liter per kerosene to reflect the movement of prices in the world market. Diesel prices did not move.
Pilipinas Shell Petroleum Corp., Phoenix Petroleum Philippines, PTT Philippines, Total Philippines, Flying V and Seaoil Philippines announced the price cut while other oil firms are expected to follow.
Over the weekend, Unioil Philippines said consumers can expect a price cut of P0.70 to P0.80 per liter for gasoline and no movement for diesel.
World oil prices declined last week amid rising coronavirus disease infections in the US, which traders fear could affect oil demand.
Prior to this week’s rollback, total year-to-date adjustments to stand at a net decrease of P4.97 per liter for gasoline, P8.84 per liter for diesel and P12.99 per liter for kerosene.
On June 30, the oil firms raised the price of gasoline by P0.70 per liter, diesel by P0.30 and kerosene by P0.40 per liter to reflect the movement of oil prices in the world market.
Meanwhile, Phoenix Petroleum announced it wrapped up its fuel donation initiatives with a total of 179,079 liters of free Phoenix fuels as part of its campaign to help battle the COVID-19 pandemic.
Phoenix participated in various programs and partnered with local government units (LGUs) and non-governmental groups in the past three months to be able to provide relief to frontliners, health workers, and affected communities.
In Luzon, the company partnered with the Department of Transportation for its Libreng Sakay program. Free Phoenix fuels were donated to more than 2,245 vehicles that provided free shuttles to health workers all over the metro since April. A total of 114 vehicles from the Philippine Disaster Recovery Agency’s Libreng Sakay program were also provided with free Phoenix fuels.
Phoenix fuel vouchers were also given to 58 GrabBayanihan vehicles that were used to deliver essential medical goods to hospitals. Philippine Red Cross’ MV Amazing Grace Humanitarian Ship, used to transport COVID-19 testing kits from Manila to other parts of the country, was also powered by 20,000 liters of donated Phoenix fuels.
In partnership with Agrea and other Udenna companies, Phoenix also provided fuels to the Sagip Saka program which transported fresh farm produce from Batangas and Benguet farmers and donated to communities in Metro Manila. Makati LGU’s rolling market and grocery store called Makati Mart also used fuel donated by Phoenix.
Likewise, free Phoenix fuels were given to the West Visayas Hospital ambulance and the Iloilo LGU vehicles for the transport of medical supplies and frontliners in the province. A total of 69 vehicles received a combined 2,000 liters of Phoenix fuels. The company also provided fuels for the Libreng Sakay services of six Vallacar Transit buses in Davao City.
“Staying true to our battle cry, ‘Sasamahan ka ng Phoenix’, we have been relentless in providing help to individuals, groups, and communities greatly affected by the pandemic and the quarantine. While adjusting our business to adapt to the new normal and keeping our workforce safe and motivated, we have also been busy taking part in various outreach initiatives around the country by providing free Phoenix fuels to vehicles used in humanitarian programs. As a business that offers such an essential product, we are proud that we were able to give back to the Filipinos in the way we can during this difficult time,” Phoenix Petroleum president Henry Albert Fadullon said.