Oil firms cut pump prices

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OIL firms are set to implement a minimal rollback in prices of petroleum products on Tuesday.

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In separate advisories, they said they will be slashing diesel prices by 25 centavos per liter.

Pilipinas Shell, Seaoil and Flying V will be implementing the rollback effective 12:01 a.m., Tuesday.

Phoenix Petroleum Philippines will be cutting prices effective 6 a.m., Tuesday.

Flying V will also lower prices of gasoline by 10 centavos per liter.
There is no movement in prices of kerosene products.

Other oil companies such as Chevron Philippines (Caltex), Petron Philippines, PTT Philippines, Eastern Petroleum and Total Philippines are expected to follow suit.

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

Last week, they increased gasoline prices by P1.05 per liter, and diesel prices by 15 centavos per liter and kerosene by 15 centavos per liter.

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