Oil companies in the Philippines are set to lower pump prices today, with separate advisories announcing price cuts for gasoline, diesel, and kerosene. The price cuts will range from P0.10 to P0.60 per liter and will take effect at various times throughout the day. This rollback comes after an increase in fuel prices last week. The Department of Energy attributes the price decrease to an increase in US oil production and a slowdown in oil demand growth. The decrease in pump prices is welcome news for Filipino consumers.
