• Oil companies set new price rollbacks

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    FOR the third time in November, oil companies announced cuts in their pump prices effective today, Tuesday, on the back of weakening global prices for refined petroleum products.

    Pilipinas Shell Corp. and PTT Philippines said their price cuts in gasoline and diesel prices were set uniformly at 90 centavos per liter effective 12:01 a.m. November 25.

    Pilipinas Shell has set its kerosene price lower by P1.05 per liter.

    Independent player Phoenix Petroleum Philippines said it has decided to reduce gasoline and diesel prices by 90 centavos per liter effective 6 a.m. also on Tuesday.

    The rollbacks reflect the continued softening of refined petroleum products prices on the world market, the oil companies said in their separate advisories.

    In their two previous rollbacks, oil firms slashed gasoline prices by as much as P1.80 per liter and 85 centavos per liter for diesel.

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