Manila: Oil companies are set to implement mixed adjustments in fuel prices, with reductions in diesel and kerosene prices and an increase in gasoline prices this coming Tuesday.

According to Philippines News Agency, separate advisories from Seaoil, Caltex, Jetti Petroleum, and PTT Philippines indicate that the price of diesel products will be reduced by PHP0.80 per liter, while gasoline prices are slated to increase by PHP0.60 per liter. These changes will take effect between 6 a.m. and 6:01 a.m.

Jetti Petroleum explained that the adjustments are a reflection of movements in the prices of refined fuel products, as well as freight and market premiums in the international market. Additionally, Seaoil announced that the price of kerosene will see a reduction of PHP0.90 per liter.

Last week, Leo Bellas, president of Jetti Petroleum, anticipated further reductions in diesel prices due to a combination of slowing demand amid rising supply and developments in foreign exchange. He also noted that gasoline prices are expected to rise because of strong demand linked to the summer season in some countries.