Gasoline prices drop, but diesel up

Pump prices of gasoline and kerosene declined for the second consecutive week on Tuesday by as much as P2 per liter, but the price of diesel went up by 40 centavos per liter due to high demand amid global production cuts.

In separate advisories, local oil companies slashed the price of gasoline by P2 per liter and kerosene by 50 centavos per liter.

Caltex implemented the price adjustments at 12:01 a.m., followed by Shell, Phoenix Petroleum, Petro Gazz and Seaoil at 6 a.m., and CleanFuel at 4:01 p.m.

—Meg J. Adonis