Shell Responds to Oil Price Volatilities, Aims for Timelier Adjustments
Sep 06, 2011
Pilipinas Shell Petroleum Corporation (Shell) has announced that it will look into increasing the frequency of implementing price adjustments, i.e., to at least twice a week, in order to timely reflect changes in the international oil markets and foreign exchange, thus promoting greater pricing transparency.
“Through more frequent and timelier adjustments, we aim to help cushion the impact of higher oil prices to the public,” Roberto Kanapi, Pilipinas Shell Petroleum Corporation Vice President for Communications said. “As part of the deregulation process, we constantly assess the needs of our customers and look at ways to best address them.”
The announcement was made following the implementation of upward price movements in unleaded premium gasoline and regular gasoline by P0.90 per liter, and diesel and kerosene by P0.70 per liter effective 6:00 a.m. today, as a result of higher international oil prices in the previous week.