MANILA, Philippines—Oil firms will cut their pump prices this week amid the downtrend in the international market.
Petron and Shell said in separate announcements that their price cuts were to start at 12:01 a.m. on Nov. 10 as follows: gasoline—60 centavos per liter, diesel—60 centavos per liter, and kerosene—70 centavos per liter.
For Cebu and Bohol, which were hit by a recent earthquake and then faced Supertyphoon “Yolanda’s” wrath, the rollback was 60 centavos per liter for gasoline, 25 centavos per liter for diesel and 50 centavos per liter for kerosene. Most oil firms spared Cebu and Bohol from last week’s price hikes for diesel and kerosene.
Other oil firms are expected to announce similar adjustments.
Meanwhile, electricity rates for November will increase by P1.24 per kilowatt hour for a typical household with a monthly consumption of 200 kWh due to higher generation and other charges, Meralco said Friday.Riza T. Olchondra
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