The week starts on a positive note for budget-conscious motorists.
Local oil prices now cost at least 50 centavos lower as the global cost of crude continued to ease, oil firms said in separate text messages to the media.
The rollback took effect starting 6 a.m. today.
With the latest price adjustment, gasoline prices are now P1.25 lower per liter.
Petron and Pilipinas Shell slashed P1 off their diesel prices, and 75 centavos off kerosene.
Chevron, on the other hand, cut its diesel and kerosene prices by 50 centavos and 75 centavos, respectively.
Other oil firms which slashed prices were Seaoil, Unioil and Eastern Petroleum.