Eastern Petroleum will slash the price of diesel by 60 centavos per liter but raise that of gasoline products by 35 centavos. The price adjustments take effect today.
Other companies have yet to announce if they will also adjust their rates.
On December 10, oil firms raised the price of diesel by 30 centavos per liter and kerosene by 55 centavos per liter.
The oil companies started December by jacking up the price of diesel by P1.35 per liter, kerosene by P1.20 per liter and gasoline by 35 centavos per liter.