Another oil price cut looms

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Oil companies are again set to reduce their pump prices this week.

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According to industry sources, the cost of diesel and gasoline may be slashed by 50 centavos to 70 centavos per liter while the price of kerosene may be reduced by 40 centavos to 70 centavos per liter.

The anticipated rollback is primarily driven by movement of crude prices in the international market.

Last week, the oil companies implemented a minimal rollback in prices of petroleum products.

They reduced diesel prices by 50 centavos per liter and 20 centavos per liter for gasoline and kerosene prices.

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