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Fuel prices drop for 8th straight week

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OIL COMPANIES have cut the prices of petroleum products as early as the weekend, with Petron Corp. among the last to send its advisory of a rollback of P2.00 per liter (/L) for gasoline, P2.10/L for diesel and P2.00/L for kerosene. “These reflect movements in the international oil market,” Petron said on Monday night. The company, along with Total Philippines Corp., will be reducing prices at 6:00 a.m. on Tuesday, Dec. 4. This week’s reduction is the eighth straight week of price cuts at amounts mostly higher than P1.00-P2.00/L. Phoenix Petroleum Philippines, Inc. was among the first to send its advisory as it announced on Friday a reduction of P2.00/L for both gasoline and diesel effective noon of Dec. 1. — Victor V. Saulon





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