Oil firms to slash pump prices Tuesday

MANILA — Oil companies will cut gasoline prices by 75 centavos per liter on Tuesday, reflecting downward price movements in the international market.

In separate advisories, Pilipinas Shell Petroleum Corp. and Flying V will also decrease diesel and kerosene prices by 90 centavos per liter.

Flying V will implement the reduction at 12:01 a.m., while Shell will apply the movements at 6:00 a.m.

The Department of Energy (DOE) said the rollback was driven by weak global demand.

With the price change on Tuesday, gasoline prices could range from PHP33.40-40.45 per liter in Metro Manila.

Diesel prices, on the other hand, could range from PHP23.45-26.85 per liter. PNA/ northboundasia.com