Shell cuts diesel, kerosene prices effective Monday

MANILA, Philippines—Pilipinas Shell Petroleum Corp. is slashing prices of diesel by 40 centavos a liter, and of kerosene by 50 centavos a liter, effective Monday.

The latest price adjustments reflect the downward trend in the prices of petroleum products in the international market. Energy Undersecretary Jose M. Layug Jr. said this was due to a dampened demand for diesel last week compared with previous week’s take-up.

Other oil companies have not announced their respective price adjustments as of Sunday evening.

This week’s rollback follows the consecutive increases in fuel prices as seen over the past few weeks.

Prior to this week’s adjustments, prices of diesel ranged from P43.24 a liter to P46.83 a liter, while gasoline retailed for P47.79 a liter to P55.70 a liter.

As of December 13, the year-to-date net increases stood at P4.91 a liter for gasoline and P6.79 a liter for diesel.