Phoenix Petroleum Philippines rolled back the price of diesel by P2 a liter and gasoline by P1.60 a liter over the weekend to reflect the movement of world oil prices.
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The price cuts were effective at 6 a.m. Feb. 1, the company said in an advisory.
Pilipinas Shell on Sunday announced its own price cut for diesel at P2 and gasoline at P1.60 per liter, taking effect on Tuesday.
Unioil Philippines, meanwhile, said it expects oil prices will go down this week as much as P2 to P2.20 per liter for diesel and P1.50 to P1.60 per liter for gasoline.
Unioil Philippines, meanwhile, said it expects oil prices will go down this week as much as P2 to P2.20 per liter for diesel and P1.50 to P1.60 per liter for gasoline.
Other oil companies are expected to follow suit on Tuesday.
World oil prices took a hit as a deadly coronavirus outbreak gripped China, the world biggest consumer of oil.
On Feb. 1, the oil firms also announced a price cut in liquefied petroleum gas or LPG.
Petron Corp. announced it will implement a P2.20 per kg rollback in LPG, or a P24.20 price drop per 11-kilo tank effective Feb. 1.
READ: More oil firms slash pump prices by as much as P0.40 per liter
Petron said it will also cut its auto LPG prices by P1.25 per liter at the same time.
“These reflect the international contract price of LPG for the month of February,” it said.
Phoenix LPG Phils., Inc. also announced that it will cut the prices of Phoenix Super LPG by P2.20 per kilogram and auto LPG by P1.25 per liter effective Feb. 1.
Rival Isla LPG which markets the Solane Brand cut LPG prices by P1.95 per kilo exclusive of value-added tax.
On Jan. 28, most of the oil firms cut the price cut diesel by P0.40 per liter, kerosene by P0.35 per liter, and gasoline by P0.30 per liter.
From Jan. 18 to 21, most of the oil companies also cut the price of gasoline by P0.85 to P0.90 per liter, diesel by P1.70 per liter and kerosene by P1.60 to P1.65 per liter.