Oil firms roll back gas prices


Posted at Sep 03 2012 09:59 PM | Updated as of Sep 04 2012 05:42 PM

MANILA, Philippines - Here's good news for motorists following a series of oil prices increases in the past weeks.

Several oil companies on Monday night announced a rollback in their fuel prices effective Tuesday.

Petron said it will implement a P0.90 per liter rollback in the pump prices of its Blaze 100, XCS, and Xtra fuel products effective 12:01 a.m., September 4.

The prices of Petron's Pinoy Gasoline and regular gasoline will also decrease by P0.20 per liter.

"This reflects movements in the international oil market," the company said in a press statement.

Seaoil will also reduce the prices of its Premium and Unleaded Gasoline by P0.90 per liter and its regular gasoline by P0.20 per liter effective 12:01 a.m. Tuesday.

The other oil companies that have announced similar rollbacks are:

Unioil (effective 12:01 a.m., September 4) - Quantum and unleaded, P1.00 per liter

Eastern Petroleum (effective 12:01 a.m., September 4) - Price rollback of P0.90 per liter on unleaded and premium gasoline; P0.20 per liter cut on regular gasoline.

Total (effective 6 a.m., September 4) - Decrease of P0.90 per liter on unleaded gasoline and Protec gasoline; rollback of P0.20 per liter on regular gasoline.

Phoenix Petroleum (effective 6 a.m., September 4) - P0.90 rollback on premium and unleaded gasoline; P0.20 cut on regular gasoline.