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Big time fuel price rollback set Tuesday

Prices of basic goods likely rose by 2.4-3.2 percent in February, with cheaper electricity, fuel, and food costs softening price movements, a unit of The Bangko Sentral ng Pilipinas says.

Metro Manila (CNN Philippines, February 3) – Heads up, motorists! Fuel companies have announced a reduction in prices of their petroleum products starting tomorrow.

Seaoil, Shell, and Petro Gazz announced they will implement cuts of ₱1.60 per liter price on gasoline.

Diesel products will be brought down to ₱2 per liter, while kerosene will be priced ₱2.45.

Seaoil’s roll back will take effect as early as 12am.

Meanwhile, Shell and Petro Gazz said their rollback will be implemented at 6am tomorrow.

Price movements in the world oil market triggered the drop in local pump prices. Other fuel retailers have yet to announce if they will also implement similar rollbacks.

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