PHOENIX Petroleum Philippines will cut pump prices by P0.50 per liter of diesel and P0.20 per liter of gasoline effective 6 a.m. today, Monday, the company said Sunday.
The other oil companies were yet to announce if they would similarly cut prices as of press time.
“Phoenix will decrease the prices of diesel by P0.50 per liter and gasoline by P0.20 per liter effective 6 a.m. of July 17, 2017,” Phoenix said in its advisory.
Phoenix offered a 10-peso-per-liter discount across all products from 10 a.m. to 12 noon on Tuesday last week at its 78 stations nationwide to celebrate the company’s 10th listing anniversary at the Philippine Stock Exchange.
The discount offering caused traffic jams near Phoenix stations in certain areas in Quezon City and other parts of Metro Manila.
Last week, the oil firms raised pump prices by P1.20 per liter of diesel, P0.90 per liter of kerosene and P0.70 per liter of gasoline effective July 11.