FOUR oil companies, including one of the three oil giants in the country, spearheaded the implementation of oil price rollback effective today.
Pilipinas Shell, Phoenix Petroleum, PTT, Flying V, pegged the rollback in pump prices both in gasoline and diesel at P0.65 per liter and P0.55 in kerosene.
Except for Shell, whose rollback took effect at 6 a.m., rollback of independent oil industry players took effect at 12:01 a.m. today. Other oil companies have yet to announce their own price adjustment.
The rollback was reportedly due to movement of oil prices in the world market.
The rollback is the second for this month following last Nov. 8 oil price rollback pegged at P0.65 per liter in pump prices of gasoline, P1.20 for kerosene and P1 for diesel.