INDEPENDENT oil player Seaoil announced on Monday price adjustments to their petroleum products.

In a statement, the company said that the price of per liter for gasoline will be rolled back by P1.50.

For diesel, it will be deducted by P1.30 per liter.

Kerosene on the other hand will have a P1.40 price reduction.

Earlier, the Department of Energy said that latest adjustments is brought about by the strengthening of the dollar, fears of an economic slowdown and the global demand outlook being lowered.

Catherine R. Cueto