Shell, Chevron announce price adjustments

(Updated 9:16 p.m.) Pilipinas Shell and Chevron Philippines (formerly Caltex) on Monday night announced there will be movements in the prices of their petroleum products on Tuesday, Oct. 11, 2011. Shell media relations manager Mich Cruz said they will reduce the prices of diesel by P0.40/liter, kerosene by P0.30/liter, and regular gasoline by P0.75/liter. They will, however, increase the price of unleaded gasoline by P0.30/liter to its dealers. Cruz said the price adjustments, which will take effect at 12:01 a.m. on Tuesday, reflects the movement in international product prices. On the other hand, Chevron said it will increase the price of its Gold, GoldE10, SilverE10 by P0.30/liter, but it will reduce the prices of its regular gasoline by P0.75/liter, diesel by P0.40/liter, and kerosene by P0.30/liter. Chevron's adjustments will take effect 2 a.m. also on Tuesday. Other oil firms have yet to make similar announcements as of posting time. - KBK, GMA News