(File photo)
MANILA – After seven straight weeks of price hikes, oil firms will slash prices of diesel and kerosene effective Tuesday morning.
In separate advisories, Seaoil and Shell will cut diesel prices by PHP0.05 per liter.
Shell will also decrease kerosene prices by PHP0.25 per liter.
Other oil players are expected to follow suit on Monday afternoon.
Meanwhile, there will be no adjustment in gasoline prices.
Last week, oil prices declined as a new strain of the coronavirus disease 2019 (Covid-19) in the United Kingdom added worries on fuel demand recovery.
As of Monday noon, West Texas Intermediate traded 0.21 percent lower at USD48.13 per barrel while Brent crude declined by 0.27 percent to USD51.15 per barrel, OilPrice.com data show. (PNA)
