Shell cuts, raises prices

Pilipinas Shell Petroleum Corp. will slash Tuesday prices of regular gasoline by 75 centavos a liter, kerosene by 30 centavos a liter, and diesel by 40 centavos a liter.

However, the price of premium gasoline will rise by 30 centavos a liter.

The price adjustments were meant to reflect the decline in oil prices on the global market last week.

Not counting the price increase in premium gasoline, today’s price movement is the fourth consecutive price reduction since September 13. Prices were also cut on September 20 and October 3.

Before Tuesday’s price reduction, the year-to-date net increase in gasoline prices was P7.40 a liter. It was P5.15 a liter for diesel, government data show. Amy R. Remo