MANILA -- Two oil firms announced a price rollback on gasoline and diesel prices effective today (Monday) and on Tuesday.

Shell’s vice president for communications Roberto Kanapi said they would slash prices of unleaded gasoline by P1 per liter; regular gasoline by 50 centavos per liter and diesel and kerosene by 25 centavos per liter.

The move followed a similar price adjustment by independent oil player Seaoil Philippines, which reduced pump prices on their gasoline products twice Monday.

Seaoil will cut its kerosene and diesel prices at 6 p.m. Monday.

Kerosene costs will be reduced by 50 centavos per liter while 25 centavos per liter will be cut from its diesel prices.

The independent oil player had earlier implemented a P1 per liter rollback on all their gasoline products after midnight Monday. The reduction covers premium, unleaded, and regular gasoline.

As of posting time Monday, other oil players are yet to announce whether they will match Shell and Seaoil's move. (Virgil Lopez/Sunnex)