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

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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.

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

“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.

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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.

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.

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.

—JORDEENE B. LAGARE

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