OIL companies will implement a price increase in gasoline but will reduce diesel and kerosene prices.
On Monday afternoon, oil firms said gasoline products will increase by P0.25 per liter.
Diesel prices will go down by P0.40 per liter, while kerosene prices will be reduced by P0.35 per liter.
The price adjustments of Pilipinas Shell, Total Philippines, Phoenix Petroleum, PTT Philippines, Eastern Petroleum and Seaoil will take effect at 6 a.m. of Tuesday, July 9.
This is the fourth consecutive week of price hikes for gasoline.
The adjustment in local pump prices reflects movements in the international oil market.
Other oil firms are expected to announce their price adjustment on Monday night.
Image credits: Alysa Salen