PETROLEUM firms announced on Monday, September 5, 2022, a P1.55 per liter price decrease for diesel and P2.60 per liter on gasoline following a big-time price hike last week.Caltex and Cleanfuel will implement the price adjustment at 12:01 a.m. Tuesday, September 6, while Shell Philippines, Jetti Petroleum, PTT, Petro Gazz and Seaoil will have it effective at 6 a.m.Shell Philippines, Seaoil and Caltex will also bring down kerosene’s price by P1.60 per liter. The other firms do not carry such products.Last week, oil companies implemented a P6.10 per liter increase on diesel and kerosene and P1.40 per liter on gasoline.The Department of Energy earlier said that among the factors affecting the fuel prices were the movement of oil prices in the world market given the increase in demand in the United States and Europe amid the looming supply shortage brought about by the Russian invasion of Ukraine. (SunStar Philippines)