6 oil firms to roll back fuel prices Tuesday

Six oil firms are rolling back prices of fuel products effective Tuesday morning, GMA News TV's "Balita Pilipinas Ngayon" reported Monday.

Shell, PTT Philippines, Flying V and Phoenix will reduce prices of diesel by P0.50 per liter and gasoline by P0.80 per liter, the report said.

Shell and Flying V will also reduce the prices of kerosene by P0.35 per liter.



The price adjustments of Shell, PTT and Flying V will take effect 12:01 a.m. Tuesday while Phoenix's will take effect 6 a.m.

Meanwhile, GMA News' Julius Segovia reported that Petron and Seaoil will also implement the following price adjustments starting 12:01 a.m. Tuesday.

- 80 centavos per liter for gasoline
- 50 centavos per liter for diesel
- 35 centavos per liter for kerosene

Despite the rollback, the "Balita Pilipinas Ngayon" report quoted the Department of Trade and Industry as saying prices of basic goods are not likely to go down due to the rollback.

It quoted the DTI as saying transportation or delivery costs are a small part of manufacturing and distribution. —Joel Locsin/KBK, GMA News