MANILA –Six oil companies will cut pump prices of diesel by 30 centavos per liter effective Tuesday.
Pilipinas Shell Petroleum Corp. (PSPC), Petron Corp., PTT Philippines and Seaoil Philippines Inc. will cut diesel prices at 12:01 a.m. Tuesday, while Phoenix Petroleum Philippines and Total Philippines Corp. six hours later.
The oil companies noted no change in gasoline and kerosene prices.
Phoenix said the decrease in diesel prices was due to the appreciation of the peso in the foreign exchange.
As of Jan. 27, 2015, the Energy Department’s oil monitor recorded diesel prices in Metro Manila at Php 24 to 29.04 per liter and had a common price of Php 26.20 per liter.
The department noted that diesel prices rose by Php 3.85 since the start of the year.