More oil firms cut oil prices

June 03, 2019

MORE local oil firms lowered their fuel prices following the rollback implemented Saturday by two independent oil companies.

PTT Philippines, Pilipinas Shell, Total Philippines, Eastern Petroleum and Seaoil Philippines announced effective 6 a.m. today cuts of P1.70 in gasoline, P1.05 for diesel and P1 for kerosene.

Other petroleum companies have yet to announce an adjustment as of press time, although energy sources said other oil firms would follow suit with similar rollbacks today.

A weak global demand for petroleum was the result of lower oil prices.