Independent oil players announce cut in gasoline cost by P1/liter
Thursday, August 7th, 2008
As world crude oil prices plunge, small oil players on Thursday started implementing price cuts in their gasoline products.
SeaOil announced that it will cut by P1.00 per liter its gasoline prices starting 2 p.m. Thursday. This will be followed by Eastern Petroleum Corp. at 6 a.m. Friday.
Fernando Martinez, Eastern Petroleum president, said the prices of the company’s gasoline products will be slashed by P1.00 per liter at 6 a.m. Friday.
“We have decided that by tomorrow Eastern Petroleum will rollback gasoline prices at 6 a.m.,” Fernando Martinez, Eastern Petroleum president, told ABS-CBN’s morning show, “Umagang Kay Ganda.”