Motorists can expect lower oil prices on Tuesday morning.
Oil firms Cleanfuel, Flying V, Petro Gazz, Petron, PTT Philippines, Seaoil, and Shell will slash prices of diesel by PHP0.45 per liter, and PHP0.30 per liter on gasoline prices.
Flying V, Petron, Seaoil, and Shell will also reduce prices of kerosene by PHP0.55 per liter.
Oil price adjustment this week reflects movement in the global market.
Last week, both Brent and West Texas Intermediate (WTI) oil posted losses.
WTI ended below USD40 as oil demand remains to be a key concern.
As of this posting, Brent was selling at USD42.66 per barrel while WTI was trading below the USD40-level at USD39.77 a barrel. (PNA)
Source: Philippines News Agency