AFTER eight consecutive weeks of hefty pump price increases, consumers will get a sigh of relief after local oil companies cut the prices of gasoline products effective today, Tuesday.
In separate advisories, major oil firms Pilipinas Shell and Petron Corporation bared that they would reduce their pump prices of gasoline by uniform amount of P0.65 centavos per liter and kerosene by P0.40 centavos per liter effective at 6 a.m. today while Chevron Philippines implemented the same price adjustments much earlier at 12:01 a.m.
Independent oil firms PTT Philippines, Petro Gazz, Clean Fuel, Unioil, Eastern Petroleum and Seaoil also announced the same price adjustments on their gasoline products, also at 6 a.m. today.
Big and small oil companies said there will be no movement on the prices of their diesel.
Energy department said the price adjustment reflect movements in the international oil market.