Gasoline Prices Go Down by P1/Liter

[shadow]

just saw it sa news, but I did not get the reason why...

[[archie]]

wow!! at least a little good news for us.

[tidus1203]

http://www.abs-cbnnews.com/storypage...StoryID=124620

Apparently kala ko nanaginip ako hindi pala. Pero take note GASOLINE ONLY so diesel owners tough luck.

[170kphlang]

good news kahit papaano, bumaba yata by 5-6$ yung price niya sa world market, sana magtuloy tuloy na, bumalik man lang sa 53-55 pesos per liter ok na yun

[[archie]]

^^ tama! sana nga kahit mga ganyang price stable yung price. :clap:

pero according to the news, sabi ni san mateo na bibiglain lang tayo for more rise in gas na sana hindi totoo... but he has a point on what he's saying though.

[shadow]

damn! just had my weekly full tank this morning...bakit hinde Monday or Wednesday nag rollback...hehehe yun ang schedules ko for my weekly full tank hehehe

[tidus1203]

Let us just savor the moment since I haven't had a rollback on me for quite some time. Good thing Friday ang full tank day ko

[Monseratto]

That means the gap between diesel and gasoline just got a little tighter...

Gasoline prices go down by P1 per liter

MANILA, Philippines -- While the rise in world oil prices shows no sign of letting up, motorists can still heave a sigh of relief as oil firms Pilipinas Shell Petroleum Corp. and Flying V decided to reduce the prices of their gasoline products by P1 a liter.

The rollback takes effect at 12:01 a.m. Thursday.

In a telephone interview on Wednesday, Flying V chair and chief executive Ramon Villavicencio said the oil firm had a "comfortable" enough margin from gasoline, enabling it to pass on some relief to motorists using gasoline-fed vehicles.

The same could not be said for diesel, however, as the company still had around P6 a liter worth of under-recoveries to recoup, he said.

"I think it will be better to recover (these under-recoveries) in one blow, because then we can focus our attention on gasoline and provide some relief for those using that fuel," he said.

"The focus has always been on diesel because that’s what most of the public transport sector uses. But some consideration needs to be given to gasoline users as well. We always seem to forget the private car owners, some of whom have already given up the use of their cars in favor of public transport due to the high cost of fuel," he added.

If the diesel under-recoveries of P6 a liter could be recouped at one time via a corresponding P6-a-liter increase at the pump, then motorists could expect no more diesel price hikes for the rest of July, he said.

"But I hope international prices don’t go up too much in the coming weeks. If that happens, we have no way of assuring that pump prices won’t go up in August," he said.

"I really don’t want to make projections, so I can only speak of what’s happening now. What I can say is that diesel prices are still very high now, so we can’t give any rollbacks at this time," he added.

Since the start of 2008, gasoline, diesel and kerosene prices have risen 18 times for a total of P18 a liter for gasoline and P19.50 a liter for diesel and kerosene.

Prices of premium unleaded gasoline are now between P58.75 and P60.98 a liter, diesel between P53 and P54.97, and kerosene between P57.10 and P60.30 a liter, inclusive of the 12-percent value-added tax.

Gasoline prices already included the P1-a-liter reduction.

http://newsinfo.inquirer.net/breakin...y-P1-per-liter

[_Cathy_]

I should have just stuck with my Friday night full tank sched. Yesterday I passed by a gas station on my way home so I decided to have a full tank already since I knew that I won't be using my car for the rest of the week. Malas talaga when I disrupt my schedule.

[russpogi]

Lagay din natin 'to (from Tidus1203's post above):

Flying V slashes gasoline prices by P1 per liter
Other oil companies expected to follow

After successive weeks of increases in the pump prices of petroleum products, motorists got a surprise Wednesday when an independent oil player slashed prices by P1 per liter but only of its gasoline product and not on diesel and kerosene.

Flying V rolled back the pump price of its gasoline citing a slight decrease in the prices in the world market.

"Eh mayroong konting margin noon last week, so we felt that kailangang ibaba, natin not because na malaki ang kinikita namin pero lang makatulong," said Ramon Villavicencio, Flying V chairman.

Another independent oil player Eastern Petroleum, reportedly admitted that they would probably follow Flying V’s move due to competition.

Pilipinas Shell Petroleum Corporation and Petron Corp. would also reportedly slash its pump price for gasoline by P1 per liter effective Thursday morning.

Shows manipulation?

A transport group leader however also said that Flying V’s move showed that the big oil players were manipulating oil prices in the country.

"So ibig sabihin kayang kaya nilang mag-rollback pero bakit Flying V lang ang gumawa into… So ibig sabihin talagang manloloko talaga itong mga dambuhalang kumpanya ng langis. Niloloko tayo, pinapalabas nila na malulugi sila, ‘yon pala eh ‘yong mga maliliit na player ay nagagawang mag-rollback," said George San Mateo, secretary general of militant jeepney group, Pinag-isang Samahan ng mga Tsuper at Operators Nationwide or PISTON.

The transport group leader however said he was wary of the oil players’ move as he said the reduction in the price of gasoline would be taken back with a larger increase in the price of diesel.

"Pakitang tao, panlilinlang, paaasahin pa nila ang mga tao tapos mag-rorollback ng kapiraso, tapos papalitan nilang napakalaking pagtaas bigla," said San Mateo.

Oil companies raised pump prices last weekend by P2.00 per liter for diesel and kerosene and P1.50 per liter for gasoline

Last Saturday's price hike was the 18th weekly adjustment for the year which has seen world petroleum prices skyrocket to record highs.

Some oil companies have taken the position of a larger price hike in successive weeks as they said they would favor a one-time big increase in pump prices by as much as P4 per liter rather than the weekly and gradual increases – a position that was given a favorable reaction by energy Secretary Angelo Reyes. With a report from Zen Hernandez, ABS-CBN News

Source:
http://www.abs-cbnnews.com/storypage...StoryID=124620