Late Miocene peraluminous volcanic rocks of the Morococala field, Bolivia, define a layered stratigraphy of basal andalusite-, biotite-(?? Muscovite)-bearing rhyolite tuffs (AR), overlain by cordierite-, biotite-bearing rhyolite tuffs (CR), and capped by biotite-beanng quartz latite tuffs, lavas, and late domal flows (QL). Mineral and whole-rock compositions become more evolved from top to bottom, with differentiation reflected by decreasing Ca, Ba, Mg, Fe, and rare earth elements (REE) versus increasing F, Na/K, and aluminosity from QL to AR. Mineral, whole-rock, and glass inclusion compositions are consistent with derivation of all three rock types from a single stratified magma reservoir, but age and spatial relations between the three units make this unlikely. Genesis of the QL involved biotite-dehydration melting of an aluminous source at T > 750??C and P ??? 4-6 kbar. If not co-magmatic with QL, the other units were generated primarily by muscovite-dehydration melting at T = 730-750??C and P ??? 3??5-4??5 kbar for CR, and T ??? 750??C for AR with pre-emptive residence at low pressure (1??5-3??0 kbar). Low hematite contents (XHem ??? 0??06) of ilmenite grains in AR, CR, and early grains (as inclusions in plagioclase and sanidine cores) in QL indicate reduced conditions imposed by a graphite-bearing source. Compositional variability among texturally later oxides (ilmenite with XHem = 0??06-0??50, primary magnetite), however, apparently records progressive increases in pre-eruptive f(O2) in QL. Plagioclase-melt equilibria and electron microprobe analysis difference for quartz-hosted glass inclusions suggest pre-emptive melt H2O contents ??? 5-7 wt % for the AR, ???4-6 wt % for the CR, and ???3-5 wt % for the QL.