Shell to roll back prices by 50 centavos per liter

MANILA, Philippines - Pilipinas Shell, one of the three oil giants in the country, will rollback the prices of its diesel, gasoline, and kerosene products by 50 centavos per liter. The rollback would take effect 12:01 a.m. Friday, Shell spokesman Roberto Kanapi said in a telephone interview on Thursday with GMANews.TV. Kanapi said the price cut was prompted by the continuous drop in the price of oil in the world market. The price rollback came two days after Shell brought down gasoline, diesel, and kerosene prices by 50 centavos per liter on Tuesday. But on the same day, Shell also increased the price of its liquefied petroleum gas (LPG) products by P2 per kilogram because the forecast price for LPG in the international market for January had already risen. - Johanna Camille Sisante, GMANews.TV