Monday, July 21, 2008 (Philippines)

Shops in Manila report an increase in bicycle sales, as commuters try to cope with rising prices. (Ap photo) MANILA - President Arroyo convinced oil companies to trim diesel prices by P1.50 to help ease the pain of surging inflation. Diesel pump prices were rolled back effective midnight Sunday, Press Secretary Jesus Dureza told reporters after Arroyo met with oil industry executives. Shell Philippines and Petron Corp. led the rollback, Dureza said, adding that he hoped the other oil companies will follow suit. [full story]