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MANILA—Oil companies are rolling back fuel prices again as the international oil market remains weak.
Shell said in an advisory that it would roll back the price of gasoline by P0.80 per liter, diesel by P0.50 per liter, and kerosene by P0.35 per liter by 12:01 a.m. Tuesday, November 18.
Phoenix Petroleum said separately that it would implement similar price cuts starting 6 a.m. Tuesday.
The companies said the price cuts reflect the continued softening in the prices of refined petroleum products in the world market.
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