Unioil, Phoenix Petroleum announce price rollback effective Saturday, Dec. 29

Independent oil players Unioil Petroleum Philippines Inc. and Phoenix Petroleum on Friday announced it will slash the pump prices of their petroleum products effective Saturday.

In an advisory, Unioil said it rollback the prices of diesel by P1.80 per liter and gasoline by P1.30 per liter.

Phoenix Petroleum said it will implement the same price reductions on Saturday morning.

PRICE ADVISORY: To provide motorists with cheaper fuels going into the New Year, Phoenix Petroleum Philippines will DECREASE the prices of GASOLINE by P1.30 per liter and DIESEL by P1.80 per liter effective 6am of 29 December 2018.

— Ted Cordero (@Ted_Cordero) December 28, 2018

The price adjustments will take effect at 6:01 a.m. on December 29.

"This is to reflect the changes in the international oil market," Unioil said.

The oil companies' announcement comes ahead of usual price adjustments implemented by local petroleum firms every Tuesday of the week. — RSJ, LDF, GMA News