Local oil prices will significantly decrease this week.
In an advisory, oil firms said the prices of gasoline will be reduced by P1.75 per liter, diesel by P1.05 and P1.00 for gasoline.
The price rollback will take effect on June 4, Tuesday, but Phoenix Petroleum adjusted their prices around noon on Saturday.
The oil price slash was implemented to reflect the prices in the international world market.
This is the second straight week that oil companies will reduce fuel prices.
Last week, the price of gasoline was slashed by P0.35 per liter, diesel by P0.45 and kerosene by P0.60 a liter.
The post Oil prices to drop this week appeared first on UNTV News.