Oil firms cut pump prices

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Oil firms will implement a big rollback in prices of petroleum products on Tuesday.

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In separate advisories, Shell Philippines, Seaoil, PTT Philippines and Phoenix Petroleum Philippines said they will lower diesel prices by P1.45 per liter and gasoline prices by 60 centavos per liter.

Except for PTT Philippines and Phoenix Petroleum Philippines, the other oil firms will cut kerosene prices by P1.45 per liter.

The price adjustments will take effect between 12:01 a.m. and 6 a.m. on Tuesday.
According to the oil firms, the rollback is caused by continued decrease in prices of petroleum products in the world market.

Last week, they also lowered diesel prices by 50 centavos per liter and kerosene by 70 centavos per liter.

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