OIL COMPANIES are rolling back the prices of gasoline, diesel and kerosene this week to reflect the movement of prices in the international market. Gasoline will be down by P0.20 per liter (/L), diesel by P0.60/L and kerosene by P0.50/L. The cut in pump prices comes after two straight weeks of increases that saw some of this year’s biggest price jumps. Seaoil Philippines, Inc. will be among the first to impose the price cut at 12:01 a.m. on Tuesday, July 18. The other companies that sent their advisories will be reducing prices at 6:00 a.m. Last week, oil companies raised the price of diesel by P1.20/L, the biggest increase so far this year. The cost of kerosene also rose by P0.90/L, also this year’s biggest and matching the increase on the second week of April. Gasoline climbed by P0.70/L. — Victor V. Saulon
