Four consecutive weeks of price increases have been capped off by the announcement of the final price cuts on Monday, July 15, as anticipated last week.
For Seaoil Philippines Corp. and Shell Pilipinas Corp., the price per liter of gasoline will be reduced by P0.60. Diesel will cost P0.95 less per liter, while kerosene will be P1.15 less per liter.
Cleanfuel and Petro Gazz are to carry out the same changes for gasoline and diesel only, as they do not sell kerosene.
These price adjustments will be effective on Tuesday, July 16, at 6 AM for all firms save Cleanfuel. Their prices will change at 12:01 on the same day.
The Department of Energy or DOE expected gasoline to see a cut of P0.70 to P0.90 per liter, and diesel and kerosene P1 to P1.15 per liter.
Other oil companies are yet to announce their price changes for the week.
