Oil companies lower pump prices of diesel, gasoline

Local pump prices cut prices of diesel by 85 centavos per liter and of gasoline by 80 centavos per liter as new lockdowns weighed down international crude oil prices. Petron, Shell, Cleanfuel, Seaoil and Phoenix announced priced changes effective 6 a.m. Tuesday. Petron, Shell and Seaoil also reduced prices of kerosene by 70 centavos. As of this reporting, the international benchmark Brent crude futures were pegged at $36.71 per barrel, down from $40.81 per barrel on Oct. 26. Dubai crude, the Asian bellwether, was at $40.68 per barrel as of Oct. 29, down from $41.14 a week earlier. —Ronnel Domingo