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(From BusinessWorld (Philippines))
Byline: Jennee Grace U. Rubrico
A consumer group yesterday asked oil companies to keep pump prices stable despite the increase in Dubai crude oil prices.
In a statement, the Consumer and Oil Price Watch, through its chairman Raul T. Concepcion, said oil companies can afford to keep local prices steady since they did not cut pump prices this month despite the drop in the world price of crude.
He said oil companies should have slashed pump prices by 20 centavos this month since total crude cost, including freight and premium, fell by c51 to $26.55 a barrel in May from $27.06 in April. Mr. Concepcion said …