• Oil firms cut fuel prices

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    FUEL prices are set to go down on Tuesday as five oil companies announced another rollback.

    Pilipinas Shell, Chevron (Caltex), PTT Philippines, Eastern Petroleum and Seaoil on Monday said they will lower prices effective 12:01 a.m., while independent player Phoenix Petroleum Philippines will implement a rollback effective 6 a.m.

    Shell, Seaoil, Phoenix and PTT and Chevron will slash gasoline prices by 80 centavos per liter, diesel by 50 centavos per liter and kerosene by 35 centavos per liter.

    The latest price rollback came on continued softening in global prices of refined petroleum products.

    Last week, oil firms reduced prices of gasoline by P1 per liter, 35 centavos per liter for diesel and 15 centavos per liter for kerosene.

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