The country saw this week the biggest slash in pump prices in over a decade when the oil companies announced reductions of up to P4.25 per liter for both diesel and gasoline.
In Metro Manila, the price of diesel now ranges from P31.05 to P40.92 per liter, according to the Department of Energy. For gasoline, it’s between P38.97 and P54.58 per liter.
Shell, Total, PTT and Caltex said they implemented the price cuts on Tuesday morning. Seaoil was the first to implement the price rollback on Sunday.
Petron and Flying V reduced retail prices of diesel and gasoline by P4 per liter. Petron, the country’s biggest crude oil refiner, said its decision reflected international prices.
Over the past eight weeks, pump prices of diesel in the Philippines have gone down seven times, for a total of P9.50 per liter, while those of gasoline have been cut six times for a cumulative reduction of P8.40 per liter.