Slight drop in oil prices looms on Tuesday


Posted at Jun 03 2023 11:29 AM | Updated as of Jun 03 2023 01:49 PM

Watch more News on iWantTFC

MANILA - Oil prices are geared for a slight cut on Tuesday, after a whole month of hikes in May. 

Diesel will take the smallest cut at P0.25 to P0.50 per liter. 

Meanwhile, gasoline and kerosene prices will drop by P0.50 to P0.70 per liter. 

Shortages in oil reserves the past month drove increases in petroleum prices, which have then ran by as much as P55 per liter due to the ongoing conflict between Ukraine and Russia. 

-- Report by Alvin Elchico, ABS-CBN News