SUMMARY
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MANILA, Philippines – Oil companies will be delivering their biggest rollback so far this year on Tuesday, June 4, as trade tensions dampen the demand outlook in the international market.
Shell and Petro Gazz announced that gasoline prices will go down by P1.70 per liter and diesel by P1.05 per liter.
Shell will also reduce kerosene prices by P1 per liter. Petro Gazz does not carry kerosene.
The new rates will be implemented at 6 am on Tuesday. Other companies are expected to follow the same rates.
Year-to-date adjustments now stand at a net increase of P5.50 per liter for gasoline, P4.70 per liter for diesel, and P3 per liter for kerosene. – Rappler.com
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