Oil companies will reduce the prices of diesel prices but will increase the cost of gasoline and kerosene on Tuesday.
In separate advisories, Seaoil said it will lower diesel prices by 10 centavos per liter while Eastern Petroleum said it will reduce its rates by 15 centavos per liter.
Seaoil, on the other hand, will increase gasoline prices by 20 centavos per liter while Eastern Petroleum will hike its rates by 15 centavos per liter.
Seaoil also will also increase kerosene prices by 15 centavos per liter.
The oil price adjustment will be implemented between 12:01 a.m. and 6 a.m. Tuesday.
Eastern Petroleum said the latest price adjustments reflect the uptrend and downtrend in global gasoline and diesel prices.
“Analysts say the crude oil markets are unlikely to fully rebalance until 2017 at the earliest and will be a major hurdle on the midstream sector,” Eastern Petroleum said.