FOLLOWING their competitors, the other oil companies also reduced prices effective 6 a.m. today.
Pilipinas Shell Petroleum Corp. slashed gasoline prices by P1.25 per liter compared to the P1.30 per liter rollback of their independent market rivals.
Shell also reduced diesel and kerosene prices by P1.10 and P0.80 per liter.
Other oil companies PTT Philippines, Total, Chevron, Jetti Petroleum, PetroGazz, and Seaoil also cut prices.
This is the sixth straight oil price rollback that oil companies have implemented since last month following plummeting prices in the world market.
After reaching $80 to $85 per barrel in September, global oil prices have been plummeting in the past few weeks primarily due to beefed up inventories in the United States. (Myrna M. Velasco)
