• Oil firms lower pump prices for 3rd straight time

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    For the third time in three consecutive weeks, oil companies slashed pump prices because of the stable movement of crude in the international market.

    Oil giants Pilipinas Shell, Petron Corp. and Chevron (Caltex), as well as independent player PTT Philippines said the oil price rollback for diesel, gasoline and kerosene was to take effect at 12:01 a.m. today.

    The three major oil firms slashed diesel price by 20 centavos per liter and gasoline and kerosene prices by 10 centavos per liter.

    PTT was set to reduce prices of its diesel by 20 centavos per liter and gasoline by 10 centavos per liter only.

    Independent player Flying V earlier rolled back effective 12:01 a.m., Sunday, its diesel price by 15 centavos per liter.

    Since July, oil companies have cut prices 11 times.

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