More firms announce rollback of oil prices

November 19, 2018

Major oil firms announced the rollback of their fuel prices effective today.

Pilipinas Shell, Petron Corporation and Chevron Philippines said they will reduce prices of gasoline by P1.25 per liter, P1.10 per liter for diesel and P0.80 per liter on kerosene starting 6 a.m.

Last Saturday, independent oil companies Phoenix Petroleum Philippines Inc., Flying V, Unioil, Petro Gazz and Sea Oil reduced their gasoline prices by P1.30 per liter and P1.10 per liter for diesel.

Energy sources said higher inventories of US crude and stronger US dollar were the reasons for the continued decrease of oil prices in the world market.