Oil firms to rollback pump prices Tuesday

Four oil firms on Monday announced another rollback of fuel prices.

Shell Petroleum Corp., PTT, Total and Phoenix Petroleum Philippines said they will slash the prices of its gasoline and diesel by P1.00 per liter and P1.45 per liter, respectively.

Shell said it will also cut the price of its kerosene products by P1.25.

The latest price adjustments will take effect at 6 a.m. Tuesday, January 19.

The oil firms said the price adjustments reflect the softening of world oil prices.

This price rollback will be the third this month.

The first price rollback was implemented on January 2 followed by another adjustment on January 12. —ALG, GMA News