Shell, Petron cut gasoline prices

MANILA, Philippines - Pilipinas Shell Petroleum Corp. has rolled back the price of unleaded gasoline by P1.20 per liter and 80 centavos per liter for regular gasoline.

Shell, however, increased the price of diesel by 45 centavos per liter and kerosene by 15 centavos per liter.

 Petron Corp. also reduced the price of premium gasoline by P1.50 per liter and 80 centavos per liter for regular gasoline effective today.

But it likewise increased the price of diesel by 20 centavos per liter.

The price adjustments, which took effect midnight, “reflect the movements in the international product prices, trader’s premium and bio-fuel costs.”

Last Friday, Unioil Petroleum Corp. took the initiative by reducing the price of all its gasoline products by P1.50 per liter.

The price of diesel was increased by P1 per liter and kerosene increased by P1.10 per liter last Oct. 24.