Shell, PTT slash diesel, gasoline prices
By Marie S. NeriMANILA
Pilipinas Shell Petroleum Corp. (PSPC) and Thailand-based PTT Philippines will cut prices of their diesel and gasoline products by midnight tonight .
Roberto Kanapi, Shell’s vice president said it would slash prices of diesel by 75 centavos per liter and 50 centavos per liter on gasoline effective 12:01 a.m. Tuesday.
Kanapi said the reduction was mainly due to the continued drop in the international crude prices.
PTT, on the other hand, will enforce a rollback of 75 centavos per liter only on its diesel products.
During the weekend, Raul T. Concepcion, chairman of the Consumer and Oil Price Watch (COPW), said oil companies should rollback fuel prices by as much as P1.50 per liter this month, especially for the diesel products which showed continued decline in the world prices.
Currently, only Shell and PTT issued the rollback announcement but other oil firms are expected to implement the same price cut soon. Last December 15, oil companies carried out a P1 per liter rollback in their diesel and kerosene products and 50 centavos per liter for their gasoline products. (PNA)
gasoline prices, ptt slash diesel, shell
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