Oil firms to cut pump prices for at least P2/liter today

Oil companies are set to implement a fresh price roll back of at least P2 per liter this week.

In separate messages, oil companies announced to cut prices of diesel by P2.10 per liter; gasoline by P2 per liter; and kerosene by P2 per liter.

The oil price rollbacks will be effective today.

Oil firms have been lowering petroleum prices for eight straight weeks due to the declining prices of crude oil in the international market since October 15.

Local oil players gave the biggest price rollback on diesel last week at P2.30 per liter. For gasoline, a P2.30per-liter cut last November 13 was the largest rollback so far.