Oil companies lower prices of gasoline, kerosene

MANILA, Philippines — Local oil companies reduced gasoline prices by 25 centavos per liter as the global market faltered again amid renewed worries over the pandemic.

Caltex adjusted prices after midnight. Petron, Shell, Seaoil, Total, PTT and Phoenix followed at 6 a.m. on Tuesday.

Diesel prices were unchanged. Petron, Shell, Caltex and Seaoil cut kerosene prices by 10 centavos per liter.

Brent crude, the international benchmark, was pegged at $62.88 as of press time from $62.15 on April 5. Dubai crude, the Asian bellwether, was at $61.47 per barrel as of April 8, from $64.41 a week ago.

—Ronnel W. Domingo