Oil price cut set on March 12

MANILA, Philippines — Oil firms will implement a markdown in oil prices in the second week of March.

In separate advisories, CleanFuel, PetroGaz, SeaOil and Shell announced the following adjustments in fuel prices scheduled for Tuesday:

• Diesel prices - Down P0.25 by liter
• Gasoline prices - Down P0.50 by per liter
• Kerosene prices will also decrease by P0.30 liter

Last week, oil companies implemented mixed adjustments in pump prices. Diesel prices went down by P0.40 per liter and gasoline prices hiked by P0.50 per liter.

Kerosene prices saw a decrease of P0.35 per liter last week.

SeaOil, PetroGazz and Shell price adjustments will take effect at 6 a.m. on Tuesday, while price adjustments for CleanFuel will be implemented at 4:01 p.m. on the same day.

Other oil firms have yet to announce their price adjustments.

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