In separate advisories, local oil companies cut the prices of gasoline by P2.20 per liter, diesel by P2.70 per liter and kerosene by P2.55 per liter, effective on Tuesday.Seaoil, Petro Gazz and Pilipinas Shell implemented the price adjustments at 6 a.m. Last week, prices declined by P1.50 , P1.30 and P1.40 per liter.
According to the Department of Energy, oil prices fell globally despite concerns of another rate hike by the US Federal Reserve and projections of weaker demand growth.
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