Another rollback in fuel prices seen next week | Inquirer News

Another rollback in fuel prices seen next week

/ 05:10 AM September 18, 2022

Stock photo of fuel pumps. STORY: Another rollback in fuel prices seen next week

INQUIRER.net file photo

MANILA, Philippines — Another respite awaits motorists next week with the expected reduction in the pump prices of petroleum products.

According to industry sources, the price of diesel is expected to decrease by P3.90 to P4.20 per liter and gasoline by up to P0.30 per liter.

Article continues after this advertisement

This was based on the average Mean of Platts Singapore (MOPS) trading from Sept. 12 to Sept. 16, as per the source.

FEATURED STORIES

“Diesel should go down by P3.80 to P4.00 per liter. Gasoline should have no price change to a rollback of P0.15 per liter,” Unioil said in its advisory.

Rino Abad, director of the Department of Energy’s Oil Industry Management Bureau, estimated the cost of kerosene to go down by P4.46 per liter.

Article continues after this advertisement

The price of gasoline dropped last week by P0.45 per liter while that of diesel and kerosene fell by P1.45 and P1.70.

Article continues after this advertisement

If the projections are right, next week might be the third consecutive time that oil companies will roll back domestic fuel prices. To date, aggregate increases stand at P16.50 per liter for gasoline, P34.80 per liter for diesel and P29.90 per liter for kerosene.

Article continues after this advertisement
—JORDEENE B. LAGARE

RELATED STORIES

Pamalakaya says proposed P489-M fuel aid to fisherfolk is insufficient

Article continues after this advertisement

PNOC eyes targeted fuel relief program amid high fuel costs

LOOK: 1,174 TODA drivers receive fuel subsidy in QC

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: fuel prices, oil firms

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.