Petron, Phoenix Petroleum to lower pump prices Tuesday

Oil companies are lowering the pump prices of petroleum products starting Tuesday, to reflect movements in the international market.

Petron Corporation is implementing the following price rollbacks at 12:01 a.m., Jan. 26:

• P0.60 per liter for Blaze 100, XCS, Xtra Advance, and Super Xtra

• P0.90 per liter for Turbo Diesel and DieselMax

• P1.10 per liter for kerosene.

"These reflect movements in the international oil market," according to Petron."

In a separate advisory, Phoenix Petroleum Philippines noted its pump prices will go down starting at 6 a.m. Tuesday.

"In spite of the peso depreciation and mainly due to oversupply in the region, Phoenix Petroleum Philippines will decrease the prices of diesel by P0.90 per liter and gasoline by P0.60 per liter, effective 6 a.m. of 26 January 2016, to reflect the continued downward price movements of petroleum products in the world market," the oil firm said.

Other oil companies have followed suit with the same price adjustments as Petron and Phoenix Petroleum:

• FLYING V – effective January 26 at 12:01 a.m.
   
• TOTAL – effective January 26 at 6 a.m.
   
• SEAOIL – effective January 26 at 6:00 a.m.
   
• PTT Philippines – effective January 26 at 6:00 a.m.
   
• Shell – January 26 at 6 a.m.

The oil firms said the adjustments were a result of the recent declines in world crude prices. – VS, GMA News