Oil companies will implement mixed price adjustments starting 12:01 a.m. today.
In separate advisories, Caltex, Cleanfuel, Jetti, PTT, Seaoil, Shell and Unioil said they will increase gasoline prices by P0.45 per liter while slashing diesel prices by P1.25 per liter.
Caltex, Seaoil and Shell will also reduce kerosene prices by P1.20 per liter.
Other oil companies are expected to follow suit.
According to OilPrice.com, West Texas Intermediate traded lower by 1.8 percent to USD84 per barrel while Brent crude traded at USD89.07 per barrel, down by 1.56 percent.
Data from the Department of Energy showed that for the period Oct. 24 to 30, pump prices of gasoline ranged from P57.65 per liter to P86.40 per liter; diesel, from P59 to P82.20 per liter; and kerosene, from P76.25 to P89.39 per liter.*PNA