Corporate Results of over 2500 companies Monday, October 4, 1999
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Philippine oil firms alter pump prices again 

REUTERS  
Manila, Oct 3: Al three major Philippine oil refiners adjusted product prices last Friday to bring them in line with each other after an initial round of increases on Thursday, officials from the companies said. Petron Corp raised prices by an average of 34 cent per litre on Thursday and said it had altered some of the changes "on account of competitive pressures."

It said hikes in prices of premium and unleaded gasoline would be scaled back and the new adjustments would be effective from Saturday. Both Pilipinas Shell Petroleum Corp and Caltex Philippines adjusted prices twice - once on Thursday and then again on Friday. Caltex Philippines said last Friday it had scaled down an increase in diesel prices effective on Thursday while raising those of premium and unleaded gasoline. Officials said the second round of adjustments were made to reflect price changes made by the company's two main competitors.

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