In separate advisories on Monday, six oil companies–Petron, Pilipinas Shell, Eastern Petroleum, Phoenix Petroleum, PTT Philippines and Flying V–announced that they will cut diesel prices by P1.10 per liter and gasoline prices by P0.80 per liter, effective March 21, Tuesday.
Petron, Pilipinas Shell, Petron and Flying V will lower kerosene prices by P1.20 per liter.
Petron, Eastern Petroleum and Flying V will implement the price adjustments at 12 midnight of Monday.
Pilipinas Shell, PTT Philippines and Phoenix Petroluem will effect the price changes at 6 a.m. of Tuesday.
Department of Energy monitoring for Metro Manila as of March 14 showed that diesel prices ranged from P28.05 to P33.95 per liter with a common price of P30.95 per liter; gasoline from P39.40 to P48.09 with a common price of P46.68 per liter; and liquefied petroleum gas in 11-kilogram cylinder from P496 to P756.
The latest price changes resulted from average price movements for the previous five trading days in the global market.