PCC finds reasonable grounds for full probe on cement industry

On account of prices softening in the world market, the price of gasoline at the pumps will be rolled back this morning by R0.55 per liter for gasoline and diesel by R0.10 per liter. Kerosene, which is both a household commodity and a base fuel for the aviation industry, will be slashed by R0.20 per liter. This latest batch of oil price reductions will be effective either 12:01 a.m. or 6:00 a.m. on Tuesday (March 7) – depending on the notice of the oil companies to their dealers and retail networks. As of press time, the oil firms that already cut prices include Pilipinas Shell Petroleum Corporation, Flying V, Seaoil, Petron Corporation, PTT Philippines, and Eastern Petroleum. On the dictates of market competition, the rest of the industry players are expected to follow this fresh batch of pump cost rollbacks. Prices of oil on the global level are still going nowhere, with doubts also cast on whether or not Russia will eventually pursue its committed production freeze. (MMV)