4 oil firms to cut fuel prices

MANILA, Philippines—Four oil companies have slashed prices of fuel effective December 21.

Petron, Shell, and Eastern Petroleum have announced a price rollback that would take effect 12:01 a.m. this Sunday:

Petron and Shell announced the following price cuts:

• P1.10 per liter for gasoline
• P1.35 per liter for diesel
• P1.40 per liter for kerosene

Eastern Petroleum also reduced prices of diesel by P1.30 and gas by P1.10 while Phoenix will cut diesel prices by P1.35.

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On December 11, the Land Transportation Franchising and Regulatory Board slashed the minimum fare of public utility jeepneys (PUJs) from P8.50 to P7.50 due to the price rollbacks of fuels products.

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