MANILA, Philippines (1st UPDATE) - Oil companies are implementing new price cuts on their petroleum products Tuesday.
Phoenix Petroleum Philippines will reduce the prices of its diesel by 30 centavos per liter and kerosene by 40 centavos per liter effective 6 a.m. July 3 to match the price movements of its competitors.
Meanwhile, PTT said it will roll back pump price of diesel 30 centavos per liter effective 12:01 a.m. Tuesday.
Its gasoline prices will remain the same.
Total will lower its pump prices 6 a.m. Tuesday by 30 centavos per liter on diesel and P1 per liter on auto LPG.
Chevron, on the other hand, will cut prices of diesel by 30 centavos per liter and kerosene by 40 centavos per liter.
Seaoil, Petron and Shell earlier announced similar price cuts. They are slashing the prices of diesel by P0.30 per liter and kerosene by P0.40 per liter at 12:01 a.m. July 3.
Petron said the prices are being adjusted to reflect movements in the international oil market.
Meanwhile, Liquigaz slashed LPG prices by P6 per kilogram effective 7 a.m. on Monday.