Fuel prices dropping by more than P2/L this week

OIL COMPANIES are set to rollback fuel prices again this week at reduction rates higher than last week. SeaOil said it will lower prices for gasoline by P2.45 per liter (/L), diesel by P2.70/L and kerosene by P2.60/L at 12:01 a.m. on Monday. Petro Gazz will implement the same price cuts for gasoline and diesel at 6:00 a.m. on Tuesday. Last week, firms such as Petron Corp. and PTT Philippines Corp. slashed the per liter prices on gasoline, diesel, and kerosene at P1.70, P1.05, and P1.00, respectively. The rollbacks follow the movements in the international oil market, one of the companies said. — Janina C. Lim