MANILA -– Seven companies will implement another bigtime rollback on their primary petroleum products today.

Petron Corporation, Phoenix Petroleum Philippines, PTT Philippines, Pilipinas Shell Petroleum Corporation, Seaoil Philippines Inc., Chevron Philippines Inc. and Eastern Petroleum will cut gas prices by P1.70 per liter and diesel prices by P 1.5 per liter.

Moreover, Petron Corporation, PSPC, Seaoil and CPI noted a reduction on kerosene prices by P 1.6 per liter.

IN VICTORIAS
78 ARBs to be installed

Seventy-eight Agrarian Reform Beneficiaries will be installed in landholdings previously owned by the Victorias Milling Company, covering three barangays in Victorias City, Negros Occidental, today.

The ARBs will be installed on 119.24 hectares in barangays XV, XV-A, XVIII-A in Victorias.

This was disclosed by Aisha May Ardiente, section chief of the Monitoring and Evaluation and Media and Public Affairs, Program Beneficiaries Development Division of the Department of Agrarian Reform (North), yesterday.

Lower rates of
goods seen in 2015

MANILA -- Department of Trade and Industry Secretary Gregory  Domingo said he expects the prices of goods and services to go down this year, pushed by lower fuel retail costs and change of commodity’s prices on some products.

Domingo said consumers should benefit from the significant decline in prices of oil products which has direct effect to some sectors, particularly in logistics.

He cited three components of declining goods and services prices are the effect of fuel on the delivery of manufacturers' products to their customers; direct effect of electricity and fuel costs on the products outside of the delivery cost; and the effect of fuel and electricity on the raw material prices which include the delivery of raw material to the manufacturers and the indirect cost of fuel and electricity cost on the production of raw material, noting that the third component has longest lag effect on retail price reduction.

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