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Byline: Ava Kashima K. Austria
A major oil company yesterday said the recent decline in world prices is not an assurance that pump prices will immediately follow suit.
In an interview with reporters yesterday, Pilipinas Shell Petroleum Corp. Chairman Edgar O. Chua said lower oil prices is not enough to offset the longer period of high prices for the past months.
This, as Energy Secretary Angelo T. Reyes yesterday said there might be some pressure for prices to come down if world oil prices continue on its downward trend for the next two weeks.
He said world crude prices have been softening for the past seven to 10 days, adding the price of …