Fuel prices slashed a 7th time

MANILA, Philippines—Oil companies will reduce the prices of petroleum products on Sunday to reflect the continued softening of prices in the international market.

Petron Corp., Phoenix Petroleum Philippines, Chevron Philippines and Seaoil Philippines will cut prices of regular gasoline by 90 centavos a liter, premium gasoline by 45 centavos a liter, and diesel fuel and kerosene by 35 centavos a liter.

Other companies had yet to make their respective announcements as of press time Saturday but are expected to also cut their prices.

This is the seventh consecutive week that prices of petroleum products have gone down.

Prior to Sunday’s oil price rollback, pump prices of diesel fuel ranged from P42.20 to P46.20 a liter and gasoline from P49.55 to P57.07 a liter.