Motorists get early Christmas gift from oil firms with rollback

Petroleum products down by as much as P1 a liter
Motorists are enjoying an early Christmas treat as oil companies rolled back the prices of petroleum products by as much as P1 a liter on Tuesday.
Chevron (formerly Caltex) Philippines, Pilipinas Shell and Petron cut gasoline price by 50 centavos a liter, and diesel and kerosene prices by P1 per liter shortly after midnight.

The move of the industry's Big Three was followed by independent oil player Total Philippines, while PTT Philippines implemented a P1 price cut per liter of gasoline, diesel and kerosene products.

The rollback stems from the drop of crude oil prices in the international market, oil firms said. 
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