Oil companies cut pump prices of fuel anew

By: 2 years ago

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MANILA, Philippines — Local oil companies slashed effective on Tuesday the pump prices of diesel by P2.20 per liter, gasoline by P2.10 per liter, and kerosene by P2.55 per liter.

Six consecutive weekly reductions have cut the prices of diesel by a total of P15.75 per liter and of kerosene by a total of P15 per liter.

The benchmark Brent crude was pegged at $94.32 per barrel as of this writing, down by $8.45 from $102.77 per barrel six weeks ago.

At the same time, the Asian bellwether Dubai crude oil was pegged at $94.08 per barrel as of Aug. 4, down by $19.16 from $113.24 per barrel.

—RONNEL W. DOMINGO