UniOil slashes gas prices by P1/liter

Small oil player UniOil Petroleum Philippines Inc. on Thursday reduced its gasoline prices by P1 per liter. The price rollback took effect at 2 p.m. and covered UniOil's unleaded gasoline and Quantum Premium gasoline. The oil firm said the price cut was brought about by decreasing oil prices in the world market. UniOil corporate communications officer Leah Flor said Thursday's price slash brought to almost P2 the total price adjustment implemented by the oil firm this week. - Mark D. Merueñas/KBK, GMANews.TV