MANILA, Philippines - Effective today, Pilipinas Shell Petroleum Corp. and Chevron will reduce by 40 centavos per liter the pump price of their diesel products and by 50 centavos per liter the price of their kerosene products.
In a media advisory, the firm said the rollback is consistent with the movement of international oil prices.
Based on the monitoring by the Department of Energy (DOE) as of Dec. 13, the price of Dubai crude and diesel declined moderately in the previous week.
Gasoline prices rose week-on-week by $2.30 because of tightened supply and slight- ly stronger demand in Asia and Middle East. China’s continuous demand for gaso- line blend stocks continued to push the value of blending components higher.