AFTER a series of price hikes last week, local oil firms will implement a slight reduction of oil prices today.
Petron Corporation, Pilipinas Shell and Chevron Philippines announced the reduction of prices of gasoline, diesel and kerosene products by 10 centavos effective 6 a.m. today.
Independent oil companies PTT Philippines, Petro Gazz, Phoenix Petroleum, Eastern Petroleum, Unioil Philippines and Flying V will also lower diesel and gasoline products starting today.
Earlier, small oil player Cleanfuel rollback its gasoline prices by 20 centavos and diesel by 15 centavos on Saturday.
The slight adjustments of pump prices reflect movements in the international oil market.