Independent oil firms announce price rollback

Three independent oil companies implemented a price rollback on petroleum products as the cost of oil continued to soften in the international market.

Eastern Petroleum, Flying V and Seaoil Philippines reduced the price of gasoline by 50 centavos, and kerosene and diesel by 75 centavos.

The country's three major oil players: Pilipinas Shell, Chevron (formerly Caltex) Philippines, and Petron, have yet to announce if they will follow the lead of the independent oil firms.