MANILA, Philippines — Local oil firms slashed fuel prices for the second time since predawn attacks on Saudi Arabian oil facilities on Sept. 14 caused a temporary uptick in crude oil prices.
This week, Shell, Seaoil, PTT Philippines and Phoenix announced reductions of P1 per liter of diesel and 80 centavos per liter of gasoline.
Shell and Seaoil also cut prices of kerosene by P1.15 per liter.
Dubai crude price fell below the pre-attack level of $58.58 per barrel to $55.86 per barrel as of Oct. 3. The Asian benchmark jumped to $66.11 per barrel on Sept. 16, the first trading day after the attacks.
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