Oil firms roll back prices

Posted at 01/07/2013 7:22 PM | Updated as of 01/08/2013 8:22 AM

MANILA, Philippines (UPDATED) - Three oil companies announced a rollback in their pump prices Tuesday morning.

Effective 6 a.m., Petron, Phoenix Petroleum, and SEAOIL will slash their diesel and kerosene prices will drop by P0.15 per liter.

However, their premium gasoline products will also increase by P0.15 per liter.

The oil companies said the move "reflects movements in the international oil market."

Other oil companies have yet to announce similar rollbacks, as of posting.