Motorists can expect lower oil prices next week as oil firms announced reduction in gasoline, diesel, and kerosene prices.

Based on oil industry sources released Friday, gasoline may decrease to Php 2.60 until Php 2.90 per liter.

Diesel may lessen from Php 3.20 to Php 3.50 per liter.

Meanwhile, Kerosene will go down by Php 4.00 to Php 4.30 per liter.

Last week, Department of Energy (DOE) - Oil Management Bureau director Rino Abad said consumers could expect that prices of petroleum products would continue to drop due to oversupply.