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The country’s oil firms cut pump prices by as much P0.50 per liter to reflect the movement of world oil prices.
The oil firms cut the price of gasoline by P0.50 per liter, kerosene by P0.35 per liter and diesel by P0.15 per liter after a series of price hikes.
“This is to reflect movements in the international market,” Seaoil Philippines said in an advisory.
Aside from Seaoil, other oil firms that issued price advisories are Phoenix Petroleum Philippines, Petron Corp., Pilipinas Shell Petroleum Corp., Flying V and Eastern Petroleum.