Oil firms to implement rollback starting Oct. 25

MANILA, Philippines — Local oil firms are set to implement minimal rollbacks in fuel prices —ranging from P0.35 per liter to P1.10 per liter– starting Tuesday, Oct. 25.

In separate advisories on Monday, the following oil firms announced their respective price adjustments starting Tuesday:

Shell (6 a.m.)

Gasoline: -P0.35 per liter

Kerosene: -P0.45 per liter

Diesel: -P1.10 per liter

Petro Gazz (6a.m.)

Gasoline: -P0.35 per liter

Diesel: -P1.10 per liter

Seaoil (6 a.m.)

Gasoline: -P0.35 per liter

Kerosene: -P0.45 per liter

Diesel: -P1.10 per liter

This is the first rollback in prices after two consecutive weeks of price hikes.

Local fuel prices are set based on average Mean of Platts Singapore (MOPS).

MOPS is the daily average price of refined petroleum products in Singapore trading. It is used for pricing petroleum products in Southeast Asia.