AFTER LAST week’s price increase, oil companies this week will resume the reduction of gasoline prices that started in the third week of October. Gasoline prices will be down by P0.15 per liter (/L), with companies such as Seaoil Philippines, Inc. implementing a reduction since Saturday. For diesel prices, companies advised varied reduction amounts, with Phoenix Petroleum Philippines, Inc. and Seaoil reducing the cost by P0.30/L. Eastern Petroleum Corp. cut its diesel price by P0.35, while others reduced prices by P0.25. Seaoil cut its kerosene prices by P0.30/L. The oil majors have yet to issue an advisory on their price adjustment moves as of 6:00 p.m. Monday. This week’s adjustment is diesel and kerosene prices’ 10th straight week of price decline. — Victor V. Saulon
