• Oil firms lower gasoline price

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    OIL companies —Pilipinas Shell, Petron Philippines, Seaoil and Phoenix Petroleum — will slash gasoline prices by P20 centavos per liter on Tuesday, company announcements said. Pilipinas Shell, Seaoil and Petron will implement the rollback at 12:01 a.m. while Phoenix’ adjustment will take effect 6 a.m. Tuesday, they said in separate advisories to the media. There are no price adjustments for diesel and kerosene, the companies said. They said the latest rollback reflected the minimal peso appreciation. Last week, oil firms also cut prices of petroleum products due to the declining prices of refined petroleum products in the international market. Pump prices of gasoline went down 65 centavos per liter, 15 centavos per liter for diesel and 20 centavos per liter for kerosene.

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