• Oil firms cut pump prices

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    In separate advisories, Petron Corp. Seaoil and PTT Philippines on Monday said they will lower diesel prices by 50 centavos per liter on Tuesday.

    They will also lower gasoline prices by 75 centavos per liter.

    Shell Philippines will reduce diesel prices by 45 centavos per liter and gasoline by 65 centavos per liter.

    Seaoil and Petron’s price adjustments will take effect 12:01 a.m. on Tuesday while Shell and PTT will implement the rollback at 6 a.m.

    The price changes are primarily driven by movement in world oil prices.

    Last week, oil companies also lowered diesel prices by 30 centavos per liter; gasoline prices by 40 centavos per liter and kerosene by 45 centavos per liter.

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