OIL firms lowered the prices of fuel on Jan. 28, ending three successive weeks of price increases.The per-liter price of gasoline was reduced by 80 centavos, diesel by 20 centavos and kerosene by 50 centavos.Oil industry sources attributed the rollback to oil-related global developments.These include the market continuing to gauge how US President Donald Trump's proposed tariffs could impact global economic growth and demand for energy, the reopening of refineries and ports in the US Gulf Coast after a winter storm, the easing of geopolitical tensions in the Middle East, and lower diesel and gasoline price benchmarks in the Southeast Asia region as supplies remain sufficient.Last week, the price of gasoline went up by P1.65, diesel by P2.70 and kerosene by P2.50.Since the start of the year, gasoline has risen by P2.65, diesel by P4.80 and kerosene by P3.80.
