Oil firms may lower pump prices

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PRICES of petroleum products are expected to rollback this week.

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According to industry sources, oil firms may lower prices of diesel by 55 to 70 centavos per liter.

While prices of kerosene are expected to roll back by 60 to 75 centavos per liter.

For gasoline, it is still uncertain whether it will go down or it will remain to its current prices.

Oil companies usually make the formal announcement on price adjustments every Monday.

It will then take effect Monday evening or the following day.

The expected price adjustment is primarily driven by the movement in world crude prices.

If it will be implemented, this will be the first time oil prices to go down this month.

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