Oil rollback effective Today

Oil companies will make another round of oil price rollback on Tuesday, December 11. In separate advisories, Petro Gazz, Jetti Petroleum, PTT Philippines, Phoenix Petroleum Philippines and Eastern Petroleum said it will start the rollback starting 6 a.m. Tuesday, December 11 with a P0.10 rollback on diesel and P0.40 increase for gasoline,

Seaoil and Shell will also implement the said price adjustments including a P0.45 rollback in kerosene products. Caltex will implement similar price adjustments at 12:01 a.m. of December 11.

The price adjustments were reportedly due to the decision of the Organization of the Petroleum Exporting Countries (Opec) and Russia to lessen the oil production by one million barrel.