Oil companies announced on Monday a price rollback in diesel and kerosene pump prices effective on Tuesday morning.
This is the fourth consecutive week of price reduction.
Pilipinas Shell will reduce diesel price by P0.25 per liter, and kerosene by P0.15 per liter at 6 a.m. of March 28.
Phoenix Petroleum, PTT Philippines and Total Philippines are also implementing the same price adjustment at 6 a.m.
Petron Corp. and SeaOil will implement their respective price reductions at 12:01 a.m. of Tuesday.
On March 22 gasoline prices went down by P0.80 per liter, diesel price by P1.10 per liter, and P1.20 per liter for kerosene.
Oil firms also implemented a downward price adjustment on March 14 in gasoline by P0.35 per liter, diesel by P0.60 per liter and kerosene by P0.70 per liter.
A week prior to that the prices of diesel and gasoline also went down by P0.10 and P0.55 per liter, respectively.
“This is to reflect movement in the international oil market,” the oil firms said.