Eastern Petroleum slashes prices of gasoline by P2/ltr, P1.90 for diesel

June 11, 2012 9:44 pm 

MANILA, June 11 — Independent oil player Eastern Petroleum Philippines on Monday slashed prices of gasoline (unleaded, premium, regular)and kerosene by P2 per liter and and diesel by P1.90 per liter.

Fernando Martinez, Eastern Petroleum chief executive, said the adjustment sent down their retail price of unleaded to P50.85 (from P52.85), premium to P51.50 (P53.50) and diesel to P41.10 (P43).

On Saturday, the so-called “Big Three” oil companies Pilipinas Shell, Petron Corp. and Chevron Philippines (formerly Caltex), as well as independent players Unioil Philippines, Seaoil Philippines and Flying V, rolled back their pump prices ranging from P1.50 per liter to P2.50 per liter.

According to oil firms the fuel price adjustments reflect the movements in the international market. (PNA)

RMA/CLTC

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