Phoenix Petroleum announces big time price rollbacks

Independent oil player Phoenix Petroleum Philippines announced a big time rollback in the pump prices of fuel products effective Saturday evening.

In an advisory, Phoenix Petroleum said it will implement a decrease in the prices of gasoline by P2.60 per liter and diesel by P2.70 per liter.

The price adjustments will take effect at 6:00 p.m., Saturday, June 8, 2019.

This is the third straight week of price cut for Phoenix Petroleum.

Latest data from the Department of Energy showed diesel costs P40.35 to 45.55 per liter, while gasoline prices range P46.45 to P57.41 per liter. —Ted Cordero/KG, GMA News