Motorists will again enjoy a rollback in the pump prices of gasoline, diesel and kerosene today by as much as P2.70 per liter, marking the third consecutive week of hefty price declines amid softening global prices.
In separate advisories, local oil companies cut the prices of gasoline by P2.20 per liter, diesel by P2.70 per liter and kerosene by P2.55 per liter, effective on Tuesday.
Seaoil, Petro Gazz and Pilipinas Shell implemented the price adjustments at 6 a.m. Last week, prices declined by P1.50 (gasoline), P1.30 (diesel) and P1.40 (kerosene) per liter.
According to the Department of Energy, oil prices fell globally despite concerns of another rate hike by the US Federal Reserve and projections of weaker demand growth.
—Meg J. Adonis
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