Petron, 2 more oil companies to roll back fuel prices

At least three more oil companies are rolling back prices of their products effective Sunday morning, following the lead of two small players in the oil industry. Petron issued an advisory on its Twitter account indicating the price rollbacks will cover premium, unleaded and regular gas, diesel, and kerosene. "This reflects movements in the international oil market," it said. It said the price rollbacks, which take effect 12:01 a.m. Sunday, include:

Price monitoring group Petrol Price Watch said Eastern Petroleum will implement a similar rollback at 12:01 a.m. Sunday. A third company, Phoenix Petroleum, will rollback prices of premium and unleaded gas by 90 centavos per liter; and diesel by 90 centavos per liter, effective 6 a.m. Sunday. Earlier Saturday, Shell said it will slash the prices of its products on Sunday. On Saturday, "small" players Seaoil and Flying V implemented similar price cuts. — LBG, GMA News