Motorists can expect lower oil prices effective this morning.
Oil firms Cleanfuel, Flying V, Petro Gazz, Petron, PTT Philippines, Seaoil, and Shell will slash the prices of diesel by P0.45 per liter, and P0.30 per liter on gasoline prices.
Flying V, Petron, Seaoil, and Shell will also reduce prices of kerosene by P0.55 per liter.
The oil price adjustment this week reflects the movement in the global market.
Meanwhile, the main equities index rose for the third consecutive day yesterday while the peso ended the week’s first trading day sideways against the US dollar.
The Philippine Stock Exchange index increased by 2.61 percent, or 150.76 points, to 5,935.85 points.
All the other counters also ended the day with gains, with the All Shares rising by 1.84 percent, or 64.28 points, to 3,558.01 points.
Property posted the highest increase during the day at 4.06 percent and was trailed by the Holding Firms, 2.77 percent; Mining and Oil, 2.18 percent; Financials, 1.83 percent; Services, 1.49 percent; and Industrial, 1.30 percent.
Volume totaled to 2.95 billion shares amounting to P3.91 billion.
Gainers led losers at 132 to 65, while 37 shares were unchanged.
The peso ended the day at 48.67 against the greenback, sideways from its 48.62 close Friday.
Volume totaled USD765.8 million, higher than the USD689.6 million in the previous session.*PNA