Shell, Petron to slash pump prices

Major oil players Pilipinas Shell and Petron Corp. on Thursday announced that they would roll back their pump prices. In a text message to reporters, Shell’s vice president for communications Roberto Kanapi said they would reduce the prices of gasoline by P1.50 per liter and diesel and kerosene by P1 per liter starting 6 p.m. Petron will also slash its gasoline prices by P1.50 per liter and diesel and kerosene prices by P1 per liter starting 12:01 a.m. on Friday, according to Petron public affairs manager Virginia Ruivivar. Ruivivar attributed the rollbacks to the downtrend of oil prices in the international market. As of posting time, other oil players are yet to announce whether they will follow Shell and Petron’s move. - GMANews.TV