Fuel firms announce rollback on gasoline, diesel, kerosene

MANILA – PTT Philippines and Shell on Sunday announced they will implement a rollback on fuel prices effective at 6 a.m. on Tuesday, Dec. 4.

Both companies said they will roll back the price of diesel by P2.10 per liter, while that of gasoline will be slashed by P2 per liter.

Shell will also roll back the price of its kerosene by P2 per liter.

On Saturday, Phoenix Petroleum Philippines made a price cut of P2.00 on diesel and gasoline.

The Department of Energy said an oversupply – both in terms of oil output and inventories – is affecting crude oil prices in global markets.

SOURCE: Panay News

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