Shell, Petron cut diesel prices by P5 per liter starting 7 a.m.

MANILA, Philippines - Two oil giants announced early Thursday that effective 7 a.m. they will roll back prices of their diesel product by P5/liter. In an interview on dzBB radio's early morning news, Bobby Kanapi of Pilipinas Shell said the firm cuts diesel price by P5 per liter and P2 for each liter of gasoline and kerosene. Shortly after Shell's announcement, Petron followed suit "copying" rollback rates and schedule of Shell. The announcements came after an independent player, Seaoil, decided to implement a P2-per-liter rollback in the prices of its oil products. - GMANews.TV