Further Concession in the Prices of Fuel

MANILA: Fuels for cars is same as the food for human body and hearing a concession on the basic necessity will definitely flood the pumps to refill the stomach of vehicles. Several oil pumps of Philippines have announced rollback on the prices of gasoline and diesel and the details are as follows

Flying V, Shell, Sea Oil, and Petron have cut their prices from 0001 hours on July 28, 2015.

Flying V – PhP 0.70 – gasoline, PhP 0.60 – Biodisel, PhP 0.40 – Kerosene

Petron – PhP 0.60 – gasoline and diesel, PhP 0.45 – Kerosene

Shell – PhP 0.60 – gasoline and diesel, PhP 0.45 – Kerosene

SeaOil – PhP 0.60 – gasoline and diesel, PhP 0.45 – Kerosene

Eastern Petroleum will regulate their prices from early 1800 hours today.

Easter Petroleum - PhP 0.65 – gasoline, PhP 0.55 – diesel

PTT, Phoenix Petroleum and Total will reduce the prices at 0600 hours on July 28, 2015.

PTT – PhP 0.60 – gasoline and diesel

Phoenix – PhP 0.60 – gasoline and diesel

Total - PhP 0.60 - gasoline and diesel

It is said that a penny saved is a penny earned. So, Filipinos what are you waiting for? Get up and rush to the nearest pump before the queue gets longer and give a good fuel treat to your vehicle's stomach. Anyways, while analyzing this decrease in prices, the two reasons which stand first in the list of thoughts are the rising U.S. Dollar which has weekend U.S. crude draw, and the Iran nuclear deal which has also played a major role in making the crude oil comparatively cheaper. The overall year to date net increase of gasoline has reduced by PhP 2.59 per litre, while that of diesel the decrease is of PhP 2.49 per litre. The LPG is still at PhP 7.05 per kg.

Further, this decrease should not be taken at leisure and it should be remembered that oil is a vital source of energy not only for today but for decades to come, irrespective of new alternative sources of energy being discovered.