Shell cuts diesel, kerosene prices

MANILA, Philippines—Pilipinas Shell Petroleum Corp. has slashed the price of its diesel by 40 centavos a liter and of kerosene by 50 centavos a liter effective today (Monday).

The latest price adjustment reflects the downward trend in world prices of petroleum products. This, according to Energy Undersecretary Jose M. Layug Jr., was due to dampened demand for diesel last week compared to the previous week’s take-up.

Other oil companies have yet to announce their price adjustments.

This week’s rollback followed consecutive increases in pump prices.