Oil firms roll back gas, diesel prices anew

MANILA, Philippines - Oil companies announced yesterday another round of oil price rollbacks effective midnight last night after implementing downward adjustments last Monday.

In separate advisories issued yesterday, local petroleum players declared a hefty price cut of P1.20 per liter for gasoline and P1.55 per liter for diesel.

Petron Corp., the country’s biggest oil refiner, issued the first announcement, followed by other oil players including Pilipinas Shell Petroleum Corp., PTT Philippines and Seaoil Philippines.

“Petron will implement the following price rollbacks effective 12:01 a.m., Oct. 12 – P1.20 per liter for Blaze 100 Euro 4, XCS, Xtra Advance and Super Xtra; P1.55 per liter for Turbo Diesel and DieselMax; and P1.60 per liter for kerosene,” it said in its advisory.

“The rollback reflected movements in the international oil market,” it added.

Similarly, PTT Philippines, the local subsidiary of Thailand’s biggest oil refiner, said it will implement rollback on prices of the following effective 12:01 a.m. today: Gasoline, P1.20 per liter and diesel, P1.55 per liter.

Seaoil Philippines also issued a similar announcement.