Shell to cut prices of regular gas, diesel and kerosene Tuesday

MANILA, Philippines—Pilipinas Shell Petroleum Corp. is again slashing prices of regular gasoline by 75 centavos a liter, of diesel by 40 centavos a liter, and of kerosene by 30 centavos a liter, effective 12:01 a.m. Tuesday.

Prices of premium (unleaded) gasoline, however, will rise by 30 centavos a liter.

The latest price adjustments were meant to reflect the general downtrend in oil prices in the global market last week compared with the previous week. Other oil companies are expected to follow suit.

Not counting the hike in premium gasoline prices, Tuesday’s price movement will be the fourth consecutive rollback implemented by oil companies, which followed the price decreases seen last October 3 and September 13 and 20.

Prior to Tuesday’s rollback, the year-to-date net increase in gasoline prices stood at P7.40 a liter and P5.15/liter for diesel, government data showed.

As of October 3, prices of diesel ranged from P40 to P43.35 a liter, while gasoline retailed anywhere between P50.50 and P57.32/liter.