After many trials and research, I discovered that the solution was using the HOME=
variable, not the PATH=
variable, like so:
SHELL=/bin/bash
PATH=/sbin:/bin:/usr/sbin:/usr/bin
MAILTO=""
HOME=/var/www/html/crons
And then each of the lines would just look like:
*/2 * * * * root /usr/bin/php cronfile.php >> logs/cronfile_`date +\%Y\%m\%d`.log
Hope this helps someone else with the same issue I had in the future.