By Myrna M. Velasco and PNA Oil companies will implement another big-time price rollback today, with the cost of socially sensitive diesel cornering the biggest reduction of P1.45-P1.50 per liter. In a pricing adjustment advisory initiated by oil major Pilipinas Shell Petroleum Corporation, gasoline prices will also be slashed by P1.00 per liter, while kerosene prices will be cut by P1.25 per liter. The price cuts of the Royal Dutch Shell’s local subsidiary will take effect at 6 a.m. today. As of press time, the other oil companies that already issued price adjustment advisories include PTT Philippines, Flying V, Phoenix Petroleum Philippines, Inc., and Eastern Petroleum. Eastern Petroleum lowered diesel prices by P1.50 per liter and gasoline prices by P1.10 per liter effective 6 last night. Phoenix said the price cut was due to the softening of petroleum prices in the world market. Eastern Petroleum chief executive officer Fernando Martinez [...]
