By: Riza T. Olchondra 03:33 AM June 21st, 2016
LOCAL oil companies
announced cuts in the prices of petroleum products following a drop in
international crude prices last week amid recovering oil production and
concerns of slower energy demand in case Britain exits the European Union.
Shell reduced gasoline
prices by 65 centavos per liter, diesel also by 65 centavos and kerosene by 45
centavos at 6 a.m. today.
Seaoil and Flying V
implemented the same price cuts at 12:01 a.m.
Eastern Petroleum
reduced gasoline and diesel prices by 65 centavos per liter effective 12:01
a.m.
Total and Unioil lowered
gasoline and diesel prices by 65 centavos starting at 6 a.m.
Oil is presently
hovering over the $47 per barrel to $50 per barrel range.
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