Oil companies cut pump prices by as much as 30 centavos as global oil prices fell last week on uncertainty over the United States’ move to abandon a deal with Iran that lifted sanctions against the oil-producing country. The price reduction took effect 6 a.m. on Monday in stations of five oil firms — Pilipinas Shell Petroleum Corp., Phoenix Petroleum Philippines Inc., Seaoil Philippines Inc., Flying V and PTT Philippines Corp. Shell, Seaoil and Flying V also reduced kerosene prices by 60 centavos per liter. ADVERTISEMENTAs a result, diesel prices in Metro Manila now range from P39.05 to P45.08 per liter, while gasoline, P48.15 to P58.35 per liter. —Ronnel W. Domingo

Source: Philippine Daily Inquirer May 07, 2018 22:30 UTC