Prices of diesel, gasoline drop after rising for weeks

MANILA, Philippines — Prices of diesel decreased by 60 centavos per liter after rising by a total of P6.25 per liter during a 14-week rally.

Pump prices of gasoline also went down, by 70 centavos per liter, following a nine-week series of increases that totaled at P5.25 per liter.

Caltex cut prices at 12:01 a.m. on Tuesday followed by Petron, Shell, Seaoil, PTT, Total and Phoenix at 6 a.m. Petron, Shell, Caltex and Seaoil also reduced prices of kerosene by 60 centavos per liter.

Dubai crude, the Asian bellwether, was at $72.83 per barrel as of July 21, sliding from $73.48 per barrel a week earlier.

—RONNEL DOMINGO