Seaoil to cut diesel prices by P3/L

MANILA, Philippines - Independent oil firm Seaoil Philippines on Wednesday said it would reduce its diesel prices by P3 per liter due to the falling diesel prices in the world market. Rey Jimenez told GMANews.TV in a text message that the price adjustment would take effect at 10 p.m. Wednesday. The Seaoil official added that some of their gasoline stations have already implemented the P3 cutback on Tuesday, a day before the scheduled announcement. “This is a result of continued softening of diesel prices in the international market," Jimenez said. The latest Seaoil rollback would bring to P4 per liter the total price slashed from the independent oil firm in the last three days. On Monday, Seaoil – along with giant competitor Pilipinas Shell – lowered their diesel prices by P1 per liter. Seaoil currently has 144 gasoline stations – 92 are in Luzon, while 13 and 39 are located in Visayas and Mindanao, respectively. - Mark Merueñas, GMANews.TV