Prices of diesel, kerosene cut; gasoline holds steady

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Pilipinas Shell, Seaoil and Chevron will reduce prices of kerosene by 95 centavos per liter and diesel by 85 centavos per liter effective from 12:01 a.m. of Tuesday.

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Petron will implement the same rollbacks from 6 a.m. today.

There is no price adjustment for gasoline, however.

Other oil companies are yet to announce price cuts in their products.

This is the first time that oil firms implemented rollbacks after a recent series of increases due to escalating tensions in some oil-producing countries in the Middle East.

Last July 1, Pilipinas Shell, Petron, Chevron, PTT, Seaoil and Phoenix Petroleum raised the prices of gasoline by 45 centavos per liter, and diesel by 10 centavos per liter.

Last June 24, gasoline prices went up by P1.30 per liter, kerosene prices by P1.45 per liter and diesel by P1.20 per liter.

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