MANILA -- Following an almost unbroken chain of weekly price increases, local pump prices seemed to taper down again as world crude prices settle back to more consumer-friendly levels, at least for now.
PTT Philippines is the latest oil firm to announce plans to slash prices of its products, to take effect 6 a.m. on Tuesday, May 7, 2019.
In an advisory, the oil company said gasoline price will be reduced by PHP0.90 per liter while diesel by PHP0.80 per liter.
Earlier, Seaoil slashed the price of its gasoline by PHP0.90 per liter and diesel and kerosene by PHP0.80 per liter effective 12:01 a.m. last May 5.
Also, Petro Gazz cut its gasoline price by PHP1 per liter and diesel by PHP0.80 per liter starting 6 a.m. Monday, May 6.
Other oil companies are expected to announce their own rollbacks later today, in keeping with the local oil industry's penchant for making almost simultaneous price adjustments of the same amount. (PNA)
