Oil firms are set to slash the prices of diesel by 90 centavos and gasoline by 75 centavos per liter effective August 2, Tuesday.
Eastern Petroleum and Flying V will reduce price pump prices at 12:01 a.m. on August 2.
Pilipinas Shell Petroleum, PTT Philippines, Phoenix Petroleum Philippines, Unioil and Eastern Petroleum will implement the price adjustments effective 6 a.m. of August 2.
Shell and Flying V will lower the price of kerosene by 90 centavos per liter.
Based on Department of Energy data as of July 26, 2016, most local oil companies rolled back gasoline prices by 10 centavos per liter, diesel by 35 centavos per liter and kerosene by 30 centavos per liter.
Retail prices in Metro Manila as of July 26 were P24.35 to P27.75 per liter for diesel with common price of P26.80; P34.15 to P 41.20 for gasoline with common price of P39.20; and P400 to P640 for LPG (liquefied petroleum gas) in P11 per kg cylinders.