Oil firms slash fuel prices by P0.50 per liter


Posted at Aug 28 2010 09:59 AM | Updated as of Aug 28 2010 05:59 PM

MANILA, Philippines – Five oil companies cut down the prices of its petroleum products by P0.50 centavos per liter.

Oil giants Pilipinas Shell, Petron, Flying-V, Seaoil and Eastern Petroleum cut the prices of gasoline, diesel and kerosene at midnight Friday.

However, independent liquefied petroleum gas retailers said LPG prices could go up.

The Liquefied Petroleum Gas Marketers Association (LPGMA) said the cost of cooking fuel will likely go up by at least P1.50 per kilogram due to higher costs abroad.