OIL COMPANIES have rolled back over the weekend the prices of gasoline, diesel and kerosene, each by more than a peso per liter, two days ahead of the usual Tuesday price adjustment. Gasoline prices are down this week by P1.05 to 1.15 per liter (/L), diesel by P1.25 to 1.30/L and kerosene, by P1.20/L. Most of the companies implemented the price cut at 6 a.m. on Sunday. No advise was given on why they were cutting prices earlier than usual except to say that the price adjustments reflected the movement of prices in the international market. Phoenix Petroleum Philippines, Inc. was among the earliest to implement the price cut on Saturday, 6 a.m. Last Tuesday, the per liter prices of gasoline, diesel and kerosene were also slashed by P1.00, P1.30 and P0.85, respectively. The move followed consecutive price hikes since the start of the year. — Victor V. Saulon

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