Here's another way to look at it: Who actually makes the oils? Mitsubishi just sources their oils and brands them Mitsubishi. It's like Toyota oils which is sourced from Caltex.
If the oils have the same Api rating then you may possibly be paying more for a "Petron" oil which was branded differently. Just get the oil specs of the mitsu oil, ie, viscosity and API rating, then look for cheaper one with the same specs.