Oil companies cut pump prices

Posted at 10/29/12 10:35 AM

MANILA, Philippines - Good news for motorists. Fuel prices are cheaper effective today. 

Petron, Shell, Sea-oil and Phoenix reduced the price of gasoline by P2.15 per liter and diesel by P1.35 per liter. 

Meanwhile, Eastern Petroleum will rollback the price of its gasoline by P2 per liter.

The Department of Energy says further reductions in fuel pump prices may be implemented in the coming weeks due to lower crude prices in the world market.

It added the rollback shows there is no truth to the common notion among motorists that fuel prices go up during the long All Saints Day weekend. - ANC