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Shell cuts petrol prices

Discussion in 'News from The Philippines' started by Micawber, May 7, 2011.

  1. Micawber
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    Micawber Renowned Lifetime Member

    MANILA, Philippines—With world crude prices falling, Pilipinas Shell Petroleum Corp. is cutting gas prices shortly after midnight Sunday, Radyo Inquirer reported.

    Diesel price will be cut by P1.75 per liter, P1.25 for regular gasoline, P0.50 for unleaded gasoline, P2 for kerosene, it reported Saturday, quoting Shell vice president for communications Bobby Kanapi.

    World oil prices fell 15 percent this week, the steepest decline in two and a half years, just as average US pump prices were approaching $4 a gallon. Gasoline prices fell imperceptibly to consumers' eyes Friday — one-tenth of a penny to just over $3.98 per gallon — but that ended a 44-day streak of rising prices.

    Prices will soon drop noticeably and some analysts said they could hit $3.50 by summer.

    Source:-
    http://newsinfo.inquirer.net/breakingnews/nation/view/20110507-335139/Shell-cuts-petrol-prices
  2. Micawber
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    Micawber Renowned Lifetime Member

    Any chance for price down here in UK I wonder?
    Or did they already implement the so-called price-stabiliser mechanism?
  3. Kuya
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    Kuya The Geeky One Staff Member

    Nah, too much profit to be made from us... :(
  4. Deepete
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    Deepete Member

    Funny enough I have just driven to Southend and back from London and the cheapest diesel on route was a Shell garage
    in Southend at 139.9 per litre and within 500 metres an Esso garage at the same price. All the others were above 141.9
    and many at 143.9.
    Oil prices have fallen but its not being passed on yet.
  5. KeithAngel
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    KeithAngel Active Member Lifetime Member

    bloody horrible shock to come back to this when i left it was 1.18 it cuts my milage down though:(
  6. redbricks
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    redbricks Member

    i wish ,we will have to pay top price they need the TAX
  7. oss
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    oss Tech Guy Staff Member

    If crude prices are falling then we are probably in another big time recession already, wonderful :(

    There are no new supplies coming on stream in any quantity so the only reason nowadays that prices would fall is lack of demand and that means lower industrial output.

    However saying that many consider current prices to be way over real value but that all depends on how you calculate 'value' it's a limited resource and in real terms is effectively priceless as we have no real alternatives :(

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