Shell, Petron to slash pump prices Monday

Oil giants Pilipinas Shell and Petron Corporation will reduce its pump prices starting Monday morning. Starting July 5, gasoline prices of both companies will be P0.50 lower per liter, while kerosene and diesel will be P0.75 cheaper per liter. Shell's adjustment will start at 12:01 a.m., while Petron's will take effect at a much later time at 6 a.m. "This is to reflect movements in the international marketr," said Bobby Kanapi, Shell's vice president for communications, in a text message. - KBK, GMANews.TV