Another round of oil price cuts set on Aug. 11

MANILA, Philippines — Fuel retailers will rollback pump prices by at least P4.30 per liter starting Tuesday, August 11.

In an advisory, the Department of Energy (DOE) said gasoline prices would drop by P4.70 per liter, while diesel would have a price cut of P4.30 per liter.

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Kerosene prices will also decrease by P4.88 per liter.

Jetti Petroleum president Leo Bellas said fresh hopes of easing tension between US and Iran could push oil prices lower.

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The peso gaining ground against the US dollar also helped lower domestic pump prices, he added. /pai