Oil firms to cut pump prices Tuesday

MANILA — Oil companies announced on Monday that there will be a rollback in diesel prices by P0.50 per liter effective Tuesday.

In separate advisories, five oil firms also announced a price cut in kerosene by P0.35 per liter namely Petron, Chevron Philippines Inc. (Caltex), Flying V, SEAOIL Philippines Inc. and Shell.

Petron, Caltex, Flying V and SEAOIL will reduce pump prices starting 12:01 a.m. on Tuesday.

While PTT Philippines, Unioil, Eastern Petroleum, Phoenix Petroleum Philippines and Shell will implement the rollback at 6:01 a.m. Tuesday.

There will be no adjustment in prices of gasoline.

Oil firms said the adjustment reflects the movement in the international petroleum market. PNA/northboundasia.com