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Motorists got a slight reprieve this week as local oil companies slashed the pump prices of petroleum products by up to P0.50 per liter effective on Tuesday, March 12.
In separate advisories, oil companies said the prices per liter of gasoline went down by P0.50 and diesel by P0.25. The cost of kerosene likewise declined by P0.30 per liter.
READ: Fuel price cut expected again for third week
Caltex and CleanFuel implemented the rollbacks at 12:01 a.m., followed by Shell, Seaoil, Petro Gazz and Jetti Petroleum at 6 a.m.
The Department of Energy Oil Industry Management Bureau attributed this week’s price cuts to “fluctuating demand concerns” in China and the United States. — MEG J. ADONIS
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