OIL companies will bring down fuel prices this week.
They announced Monday afternoon that gasoline prices will go down by P0.40 per liter, diesel by P3.10 per liter, and kerosene by P2.10 per liter.
Seaoil Phoenix, Petron, Shell, Total, Caltex, PTT said in separate announcements that they will implement the price rollback at 6am of Tuesday, May 17. Cleanfuel, meanwhile, will adjust its prices starting 8:01 a.m.
Other oil firms are expected to implement the same price adjustment.
They adjust pump prices every week to reflect movements in the world oil market.
Last week, gasoline prices went up by P4.20 per liter, diesel by P4.20 per liter, and kerosene by P5.85 per liter.
Image credits: Nonie Reyes