BY MYRNA VELASCO
Motorists filling up their vehicles with diesel can gain savings this week as the price of this commodity will be on a rollback of P0.20 per liter, as announced by the oil companies.
For kerosene, which is a fuel commonly used in households as well as in key industries like the aviation sector, it will also be on a cost reduction of P0.25 per liter.
It will be the gasoline products wherein consumers will need to shell out extra cash as the price of this fuel will be higher by P0.15 per liter.
As of this writing, the oil companies that already sent notices on their cost adjustments effective Tuesday (August 25) had been Pilipinas Shell Petroleum Corporation, Seaoil, Cleanfuel, PetroGazz and Chevron. The rest of the industry players are anticipated to follow.
The competitive strength of the deregulated industry is seen shifting mostly into the domain of the importers – as even major player Pilipinas Shell already joined that league following its decision to transform its Tabangao refinery into a world-class import terminal.
Given recent developments in the sector, it was noted that all eyes are on the competitive sway that the importers could precipitate in the swing of market forces. (Myrna M. Velasco)
