PETRON and Shell cut diesel prices by P1 a liter effective today following a reduction in the commodity’s import price.

Other oil distributors had yet to announce a similar cut, but they were expected to follow suit.

“Shell will roll back the price of diesel by P1 per liter effective 12:01 a.m. Feb. 23,” a shell official said.

The latest price cut followed the P0.25-per-liter increase in diesel prices last week after distributors shouldered extra costs in complying with a law ordering them to mix 2 percent bio-fuel in their products.

The oil firms also raised gasoline prices by P0.50 and P0.75 a liter to comply with the same law. Alena Mae S. Flores