Oil companies on Monday announced that they will lower pump prices on September 6, Tuesday.
In separate advisories, Pilipinas Shell Petroleum Corp., Caltex, Phoenix Petroleum, Eastern Petroleum, Unioil, PTT Philippines and Flying V said they will bring down diesel prices by 50 centavos per liter.
They added there will be no price movement for gasoline.
Shell, Caltex and Flying V will also roll back kerosene prices by 35 centavos per liter.
Most of the firms will apply the price changes at 6:00 a.m., Tuesday, while, Flying V will cut prices at 12:01 of September 6.
Department of Energy oil monitor for Metro Manila shows that as of August 30, diesel prices ranged from P24.84-28.27 per liter with common price of P25; gasoline prices ranged from P35.70-42.50 with common price of P35.70; and LPG (liquefied petroleum gas) prices ranged from P392-620 in P11 per kg cylinders.
The Energy department noted that gasoline had a net increase of P2.49 per liter for the year, diesel had a net hike of P4.93 per liter and LPG remained at net decrease of P8.48 per kilogram.
Last week, oil companies implemented a price increase of 50 centavos per liter in gasoline, 15 centavos per liter in diesel and 20 centavos in kerosene.