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
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