More oil firms cut pump prices by P0.30 per liter for diesel, P0.25 per liter for gasoline, and P0.15 per liter for kerosene effective 6 a.m. Tuesday.
Petron Corp., Pilipinas Shell Petroleum Corp., PTT Philippines, Phoenix Petroleum Philippines, Cleanfuel and Total Philippines announced their respective price rollbacks late Monday.
“Petron will implement the following price rollbacks effective 6 a.m. on Aug. 4: P0.25/li for gasoline; P0.30/li for diesel; and P0.15/li for kerosene. These reflect movements in the international oil market,” Petron said.
Seaoil Philippines and PetroGazz earlier announced they will also cut pump prices.
World oil prices declined last week amid reports of continuing business shutdowns and layoffs in the United States, dampening demand amid the coronavirus pandemic.
On July 28, the oil companies implemented a price increase of P0.10 to P0.30 per liter of gasoline, P0.25 per liter of diesel and P0.30 per liter of kerosene.
Total year-to-date adjustments at a net decrease of P4.52 per liter of gasoline, P7.99 per liter of diesel and P12.39 per liter of kerosene, according to the Department of Energy.