Shell, Seaoil to cut pump prices

A bit of good news to start the week
Jul 18, 2009

Pilipinas Shell and Seaoil Philippines are cutting retail pump prices anew following another week of decline in global crude oil prices.

By 12:01 a.m. on June 20, Shell and Seaoil will slash their diesel and kerosene prices by 50 centavos a liter and their gasoline price by 25 centavos a liter.

Shell said the reduction "reflects the decline in international product prices." High inventories and a soft demand has been dragging oil prices.

Other oil companies have yet to make an announcement on whether or not they will implement a price adjustment.

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