MANILA -- Oil prices are going down on July 30. 

Petroleum companies said pump prices are falling by the following amounts on Tuesday. 

SHELL PILIPINAS, SEAOIL (from 6 a.m.)

Gasoline - P0.75/L decrease

Kerosene - P0.80/L decrease

Diesel - P0.85/L decrease

CLEANFUEL (from 12:01 a.m.)

Gasoline - P0.75/L decrease

Diesel - P0.85/L decrease

PTT PHILIPPINES, PETROGAZZ, JETTI PETROLEUM (from 6 a.m.)

Gasoline - P0.75/L decrease

Diesel - P0.85/L decrease

Department of Energy Asst. Director Rodela Romero however said the escalating conflict between Israel and Hezbollah may trigger a spike in international prices that will push prices up the week after in the Philippines.

Retail prices in the Philippines are based on last week's movements in the international market compared to the prices 2 weeks ago.

After Tuesday's downward price adjustments, the net price movement for all products from January this year shows increases for gasoline and diesel, and a decrease for kerosene:

Gasoline   P9.60/L (increase)

Diesel       P6.85/L (increase )

Kerosene  P0.30/L (decrease)

LPG PRICES LIKELY UP ON AUGUST 1

Regasco President Arnel Ty says as of Friday, July 26, the international contract price of LPG rose by $22 per metric ton.

Ty attributes this increase to the stockpiling of countries in preparation for the winter season.

According to Ty, Regasco estimates an increase of P1.50-P3.00/kilo in the retail price of LPG come August 1, if the trend does not change.

There are only 3 trading days left before the final contract price is announced by July 31.

If it is an increase, this is the second straight week that cooking gas prices have increased after the P0.55 per kilogram hike last July 1.

DOE sees pump price cuts by end-July