Oil firms cut pump prices

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OIL companies will slash the cost of petroleum products on Tuesday.

In separate advisories, Pilipinas Shell, Petron, Eastern Petroleum, Phoenix Petroleum, PTT Philippines, Unioil, Seaoil, Flying V, and Jetti said that they will cut the price of diesel and gasoline by 60 centavos per liter and 35 centavos, respectively. The price of kerosene will also be reduced by 70 centavos per liter.

Most oil companies said they will adjust their rates at 6 a.m. on Tuesday. Petron, Seaoil, and Flying V will implement the rollback at 12 midnight.

The latest price changes were triggered by average price movements for the previous five trading days in the global market. VOLTAIRE PALAÑA

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