>> ASIAONE / NEWS / LATEST NEWS / ASIA / STORY
Philippines leader gets oil firms to cut diesel prices
Sun, Jul 20, 2008
AFP

MANILA - PRESIDENT Gloria Arroyo has prevailed on oil companies in the Philippines to trim diesel prices to help ease the pain of surging inflation, her spokesman said on Sunday.

Diesel pump prices will be rolled back by 1.50 pesos (S$0.045) a litre effective midnight Sunday, press secretary Jesus Dureza told reporters after Mrs Arroyo met with oil industry executives.

'We are happy with the positive response of oil companies,' Mr Dureza added.

'We express thanks to the oil companies.'

Oil firms have been jacking up prices almost weekly, the last hike on Saturday.

Press reports said petrol pump prices were raised 19 times this year while diesel and kerosene prices went up 20 times.

Oil industry officials have said the increases are unavoidable as local prices are still below global levels.

The Philippines imports all of its oil requirements, and it was unclear how long the diesel pump prices would be maintained at the reduced level.

Mrs Arroyo's popularity has fallen to a record low, a new poll showed on Saturday, and her aides have blamed the rising cost of food and fuel.

Protesters have called for street demonstrations next week.

 

 
STORY INDEX
 
  Philippines leader gets oil firms to cut diesel prices
   
 
  Three killed in Thai Muslim south after 'ceasefire'
   
 
  Thumbs up for Beijing's high-speed airport rail link
   
 
  S. Korean PM accuses Japan of damaging ties
   
 
  S. Korean police detains 16 over US beef rally
   
 
  Thai teens seeking sex changes grapple with new rules
   
 
  Japan set to give nationality to illegitimate children
   
 
  Asian security talks to tackle N. Korea, Myanmar
   
 
  Beijing to feel the strain from Olympic visitors
   
 
  Indonesia executes three for murder: official
   
   

Search: