Oil firms cut pump prices

MANILA, Philippines - Motorists will enjoy two consecutive weeks of fuel price cuts as oil companies roll back pump prices today.

Petron Corp., the country’s largest oil refiner, implemented a price cut on all fuel products past midnight today.

It rolled back gasoline prices by P0.75 per liter, diesel by P0.50 per liter and kerosene prices by P0.80 “to reflect movements in the international oil market,” Petron said in an advisory.

Seaoil Philippines Inc. also implemented a similar price adjustment at 6 a.m. today.

PTT Philippines, the local unit of Thailand’s largest petroleum company, also slashed gasoline and diesel products starting 6 a.m.

“PTT Philippines will roll back prices of gasoline products by P0.75/liter and diesel by P0.50/liter effective 6 a.m. Tuesday,” Seaoil said.

Pilipinas Shell Petroleum Corp., the local subsidiary of energy giant Royal Dutch Shell, implemented the price adjustment at 6 a.m. today.

“Please see fuel price rollback of Shell effective Tues 0600H, 24 Nov 2015: Gas: (0.65/L), kero: (0.80/L), diesel: (0.45/L),” Shell said in an advisory.