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(From BusinessWorld (Philippines))
Byline: Bernardette S. Sto. Domingo
Local oil prices are likely to drop a few centavos more as world prices continue to slip, the Department of Energy (DoE) yesterday said.
And with this, Energy Secretary Vincent S. Perez, Jr., urged oil companies to adjust pump prices "very soon" to reflect the downtrend.
"World oil prices have eased in December from last month's record. I am calling on oil firms to further reduce prices of petroleum products," he said in a statement.
DoE monitoring shows that December average price of benchmark Dubai crude further slipped to $34.27 per barrel from $34.87 last …