Oil firms bare measly cut in pump prices of fuel
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MANILA, Philippines — For the second straight week, oil companies implemented another meager rollback in local pump prices.
In separate advisories, the oil companies announced a drop of 25 centavos per liter each in the prices of gasoline and kerosene.
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The decrease in diesel prices was higher at 60 centavos per liter. The price reduction took effect on Tuesday.
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Last week’s price adjustment, however, was a tad higher. Per liter, gasoline fell by 35 centavos, diesel by P1.10 and kerosene by 45 centavos.
As of Monday, Asian bellwether Dubai crude is trading past $91 per barrel while international benchmark Brent crude is nearing $95 per barrel.
—JORDEENE B. LAGARE
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