• Oil firms to cut prices of diesel, kerosene

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    Oil firms are set to reduce prices of petroleum products on Tuesday.

    In separate advisories, Shell Philippines, Petron Corp. and Phoenix Petroleum Philippines said they will lower diesel prices by 50 centavos per liter.

    Shell and Petron will also reduce prices of kerosene by 70 centavos per liter.
    There will be no price adjustments in gasoline prices.

    The price cuts will take effect between 12:01 a.m. and 6 a.m. on Tuesday.
    Other oil companies are expected to follow suit.

    The price adjustments were triggered by lower price of crude in the world oil market.
    Last week, oil firms jacked up gasoline prices by 45 centavos per liter, diesel prices by 20 centavos per liter and kerosene prices by 10 centavos per liter.

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