Oil prices adjust: Gasoline down PHP2, diesel up PHP0.40

Oil prices will see adjustments starting Tuesday, October 3.

Gasoline prices will decrease by PHP2 per liter for most companies, while diesel prices will increase by PHP0.40 per liter.

Kerosene prices will also drop by PHP0.50 per liter at some firms.

The changes follow last week's first price rollback after 11 consecutive weeks of hikes.

Higher interest rates, a stronger US dollar, and Russia’s relaxed fuel import ban are cited as reasons for the adjustments.