Major holiday price cuts for diesel, LPG

MANILA, Philippines - Oil companies will roll back prices of diesel and kerosene but will raise gasoline prices effective today.

In an advisory, Pilipinas Shell Petroleum Corp. reduced diesel prices by P1.75 per liter and kerosene by P1.20 but increased gasoline by 60 centavos.

Phoenix Petroleum Philippines and PTT Philippines announced similar price adjustments on their fuel products to reflect movement in the global crude market.

Eastern Petroleum Corp. rolled back the price of diesel but raised gasoline prices by 10 centavos ahead of other oil firms yesterday.

Based on latest monitoring by the Department of Energy, diesel prices ranged from P22.50 to P25.90 per liter. Prices of gasoline ranged from P33.70 to P41.15 per liter.