OIL companies Eastern Petroleum Corp., Shell Philippines, Petron Corp. and Phoenix Petroleum Philippines reduced diesel prices by 50 centavos per liter.
They also lowered gasoline prices by 35 centavos per liter and kerosene prices by 45 centavos per liter.
Eastern Petroleum implemented the rollback at 6 p.m. Monday while Petron and Shell adjusted their prices at 12:01 a.m. Tuesday.
Phoenix Petroleum’s roll back took effect at 6 a.m. Tuesday.
The price adjustment was due to the movement of crude prices in the world market.
Last week, oil firms implement a minimal increase in gasoline prices by 10 centavos per liter.
Prior to that, they also increased gasoline price by P1.90 per liter, P1.85 per liter for kerosene and diesel by P1.70 per liter.