Oil prices mixed; gas up, diesel decreases

THE oil companies raised the price of gasoline by P0.20 per liter effective Tuesday but rolled back the prices of diesel and kerosene by P0.10 per liter and P0.15 per liter, respectively.

Flying V, Seaoil Philippines, PTT Philippines, Phoenix Petroleum Philippines and Eastern Petroleum made the price adjustments, and the other oil distributors were expected to follow suit.

World oil prices fell last week but recovered later in the week due to reports of a fall in US oil production, the weak US dollar and the bullish reports from the Energy Information Administration.

The oil companies have been pursuing various marketing strategies to beat the competition.

Seaoil has launched a raffle promo that will give four lucky motorists a lifetime supply of fuel.

The winners of the “Lifetime Free Gas, Oh My Gas” promo, which started on Aug. 14 and ends on Nov. 14, will be announced during three monthly raffle draws.

To get a raffle entry, a customer must submit receipts totaling P500 worth of Extreme 97, Extreme 95, Extreme U, Extreme Diesel fuels and/or Seaoil lubricants to any Seaoil station nationwide.

PTT Philippines, meanwhile, brought competition outside its service stations and dealer shops by tying up with e-commerce company Lazada and at least two other shopping sites to make its lubricant products available online.

PTT’s engine oil may now be purchased through Lazada’s online shopping site.

The move complements PTT’s growth in the Philippines, where it now has more than 100 gasoline stations. 

Topics: Oil prices
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