6 oil firms to roll back fuel prices on Sunday

ABS-CBN News

Posted at Jul 02 2011 12:21 PM | Updated as of Jul 04 2011 07:49 PM

MANILA, Philippines – (3rd UPDATE) Six oil companies on Saturday announced price cuts in their petroleum products.

Pilipinas Shell Petroleum Corp., SEAOIL and Eastern Petroleum will slash prices of gasoline, diesel and kerosene by P0.50 per liter effective 12:01 a.m. on Sunday, July 3.

Petron and Unioil will enforce similar price cuts effective 6 a.m. on Sunday, July 3.

Flying V, meanwhile, will cut prices of gasoline, diesel and kerosene by P0.25 per liter, effective 12:01 a.m. on Sunday, July 3.

Shell’s Bobby Kanapi said the rollback will be implemented to reflect the decline in international product prices. -- Report from Alvin Elchico, ABS-CBN News