Firms cut fuel prices for 3rd straight weekFOR the third consecutive week, oil companies announced a significant decrease in prices of petroleum products over the weekend. Phoenix Petroleum led the price reduction when it slashed prices of diesel and gasoline by P2.70 per liter and P2.70 per liter, respectively, on Saturday at 6 p.m.Seaoil will reduce the cost of diesel by P2.70 per liter, gasoline by P2.45 per liter, and kerosene by P2.60 per liter on Monday at 12:01 a.m. Meanwhile, Petro Gazz and Pilipinas Shell will cut diesel and gasoline prices by P2.70 and P2.45 per liter, respectively, effective on Tuesday at 6 a.m.Pilipinas Shell will also cut the price of gasoline by P2.60 per liter, also at 6 a.m.Other firms are expected to follow suit. Last week, industry players decreased diesel prices by P1.05 per liter, gasoline by P1.70 per liter, and kerosene by P1 per liter.

Source: Manila Times June 09, 2019 04:41 UTC