Oil firms to reduce pump prices

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OIL companies are set to roll back prices of petroleum products this week.

Industry sources over the weekend said diesel prices are set to be lowered by 50 to 65 centavos per liter.

Gasoline prices are expected to be reduced by 45 to 60 centavos per liter and kerosene by 75 to 85 centavos per liter.

Oil firms usually announce rollbacks on Monday, with the adjustments taking effect the following day.


This week’s rollback is a product of movement of crude prices in the world market.

Last week, oil companies increased diesel prices by 65 centavos per liter, gasoline by 10 centavos per liter and kerosene by 70 centavos per liter.

RITCHIE A. HORARIO

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