Oil companies are slashing prices of diesel and kerosene products starting 12:01 a.m. Tuesday.
However, there will be no movement for gasoline prices this week.
In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Unioil said they would reduce diesel prices by P4.15 per liter.
Caltex, Seaoil, and Shell will also cut kerosene prices by P4.45 per liter.
Prices of diesel and kerosene have been declining for three consecutive weeks.
Worries about recession and demand continue to be the main driver of falling oil prices in the world market.
On the other hand, a strong dollar is putting pressure on petroleum prices.
Since the start of the year, gasoline prices had a net increase of P26.45 per liter, P42.10 per liter on diesel prices, and P35.95 per liter on kerosene prices. (PNA)