Report: Shell nixes LPG price cut

Pilipinas Shell, the country's second largest oil firm, refused to follow the price reduction of liquefied petroleum gas (LPG) dealers, saying they were not considered its market competitors anyway. Radio station dzBB quoted Shell spokesman Roberto "Bobby" Kanapi as saying this, belittling the small, "staggered" price adjustments imposed by LPG dealers. Kanapi's statement comes less than two days after the LPG Marketers Association implemented its latest P0.50/ kg price reduction on product prices. It was the first price cut for the month of July since LPG dealers slashed prices three times in June. However, the report also quoted Kanapi as saying that unlike the LPG dealers, the "Big Three" petroleum firms imposes bigger although less frequent price cuts. Kanapi added that Shell retails the most publicly accessible LPG products. Radio station dzBB said that based on its market monitoring, Shell sells the most expensive LPG products. - GMANews.TV