• Oil firms cut prices

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    Pilipinas Shell Petroleum Corp., Petron Corp., Caltex, Flying V, Eastern Petroleum, Phoenix Petroleum, PTT Philippines and Total Philippines announced price cuts on Monday in separate advisories.

    Shell will adjust both gasoline and diesel prices by 65 centavos per liter, and kerosene by 45 centavos per liter effective 6 a.m., Tuesday.

    Phoenix, PTT Philippines and Total Philippines will reduce oil prices also effective 6 a.m., Tuesday.

    Petron, Caltex, Flying V and Eastern Petroleum will implement the price rollback earlier at 12:01 a.m., Tuesday.

    Based on Department of Energy oil monitor data as of June 14, the oil companies effected a 25 centavos per liter decrease in gasoline and 30 centavos per liter increase in diesel.

    The total year-to-date net increase for gasoline and diesel are P2.97 and P5.65.

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