Good news in the Philippines! especially for the motorist and commuters. Separate advisory, SEAOIL Philippines Inc., Pilipinas Shell Petroleum Corp, and Chevron Philippines Inc. said they are rolling back the prices per liter of diesel by P2.00, gasoline by P2.30, and kerosene by P1.85. This will be the highest oil price rollback applied by local oil firms in five straight weeks of cutting retail prices.
It said oil prices continuous the downward trend after reports of a strong build-up in US crude stockpiles and increased confidence about the convenience of supplies towards the end of the year and into early 2019. The pump prices of petroleum products are expected to be rolled back, “Expect fuel prices to roll back next week again,” independent oil player Unioil said.