MANILA – Oil firms rolled back pump prices anew by as much as P1 per liter yesterday.

In separate advisories, Pilipinas Shell Petroleum Corp., Petron Corp., Seaoil Philippines, Phoenix Petroleum Philippines Inc. and Total Philippines rolled back pump prices by P1 per liter for unleaded gasoline, P0.90 per liter for kerosene and P0.70 per liter for diesel and regular gasoline.

The oil firms implemented the price adjusted starting 12:01 yesterday.

"This is to reflect movements in the international oil markets," Petron said.

Prior to the increase, gasoline sells at a range of P55.35 to P62.02 per liter, diesel at P45.75 to P50 per liter and kerosene at P52.55 to P59.50 per liter.

Last April 10, the oil firms rolled back the price of diesel by P0.50 per liter, regular gasoline by P0.30 per liter and kerosene by P0.40 per liter but raised the price of unleaded gasoline by P0.30 per liter.

According to the monitoring of the Department of Energy, crude prices fell on the back of revived talks on Iran's nuclear program.

DOE said the resumption of talks, which Iran reportedly affirmed willingness to discuss its nuclear program with the West, has tempered worries about an immediate supply disruption.

DOE cited another reason that pulled prices lower was the report of employment data in the U.S. that have showed slower job growth in March.

The figures were well below expectations and the smallest increase since October thus, could weaken economic growth and energy demand.*PNA

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