Announced fuel price rollbacks May 22 2011 by Petron, Chevron, Total

World Top Stories News - Announced fuel price rollbacks May 22 2011 by Petron, Chevron, Total : More fuel price rollbacks have been announced. Petron was the first to commit to a price rollback of its gas prices when it announced earlier to day that its fuel products will be lowered effective 6 AM tomorrow, May 22. Petron will cut premium gasoline prices by P2 per liter, P1.75 per liter for regular gasoline, P0.50 cents per liter for diesel, and P0.30 cents per liter for kerosene. According to the Petron announcement, the gas prices are being reduced to reflect movement of oil prices in the world market.

Two more oil companies followed suit. After Petron’s announcement, Chevron (formerly Caltex) and Total announced their own gas price cuts. Chevron said it will decrease its diesel price by 50 centavos per liter, kerosene by 30 centavos per liter; Gold, Gold E10, Silver and Silver E10 by 2 pesos per liter, and regular by 1.75 pesos per liter (all VAT inclusive). This rollback will be effective 12:01 AM tomorrow, May 22.

Total’s rollback, meanwhile, will be effective 6 AM tomorrow: Protec and Premier Unleaded – 2 pesos per liter rollback, Regular gasoline – 1.75 pesos per liter rollback and Diesel – 50 centavos per liter price cut.

No word yet from Shell and the other oil companies in the Philippines.

UPDATE: Flying V has announced its own price rollback. Flying V will slash the prices of its gasoline products by P2 per liter and diesel and kerosene products by P0.30 per liter. These will be effective 12:01 AM Sunday.

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