Oil firms to cut diesel price by 25 centavos a liter

Local oil companies are slashing 25 centavos off diesel prices starting tonight following the decline of diesel prices in the world market.

Seaoil Philippines will initiate the rollback at 10 p.m.

Chevron Philippines and Pilipinas Shell will cut diesel prices at 12:01 on September 23, while Petron will follow at 6 a.m. of the same day.

The price of diesel at the Mean of Platts Singapore, the benchmark for pricing local fuel, fell to $75.47 a barrel last week from $76.16 a barrel in the previous week.