• Oil firms cut prices

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    Oil companies will slash the price of gasoline by P1.05 per liter on Tuesday.

    They will also lower the cost of diesel by 15 centavos per liter and kerosene by 20 centavos per liter.

    Pilipinas Shell, Petron, Seaoil, and Flying V will implement the rollback at 12:01 a.m. Tuesday.

    Phoenix Petroleum Philippines and PTT Philippines will cut their prices at 6 a.m.

    According to the oil firms, the price adjustment was caused by movements in the rates of petroleum products in the world market.

    Last week, oil firms also lowered diesel prices by 25 centavos per liter and gasoline prices by 10 centavos per liter. RITCHIE A. HORARIO

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