Petron to impose 'big-time' rollbacks on fuel products

Petron will roll back shortly after midnight Sunday the prices of its fuel products, citing the lowered prices of oil in the world market. In a post on its Twitter account, Petron indicated the rollback will take effect at 12:01 a.m. Monday and cover premium, diesel and regular gas. The price rollbacks include:

Other oil companies are also expected to roll back prices of their products this coming week due to lower international oil prices. Earlier Sunday, Unioil rolled back the prices of its gas and diesel products, according to a report on dzBB radio. The company rolled back prices of diesel by P1.65 per liter, and gasoline by P1.50 per liter, the report said. Earlier, prices of crude oil dropped by $6 per barrel due to lower demand, the report added. Last week, several fuel firms rolled back the prices of their products, citing further price decreases of oil in the international market. The earlier rollbacks had included 70 centavos per liter for premium gas; 90 centavos per liter for regular gas; 60 centavos per liter for diesel; and 50 centavos per liter for kerosene. Phoenix Petroleum rolled back its prices by 70 centavos per liter for regular gas and 60 centavos per liter for diesel. — LBG, GMA News