Hefty fuel price rollback seen next week
MANILA, Philippines — Oil companies may implement a big-time rollback in pump prices next week, according to industry sources.
A source said the price of diesel might decrease by P1.40 to P1.70 per liter and gasoline by 70 centavos to P1 per liter based on the five-day trading average in the global market from Feb. 20 to Feb. 24.
“Diesel should go down by P1.20 to P1.40 per liter. Gasoline should go down by P0.70 to P0.90 per liter,” Unioil said.
Cleanfuel, meanwhile, noted the running trend as of Feb. 23 was a decline of P1.50 per liter for diesel and 90 centavos per liter for gasoline.
The previous week, gasoline and diesel increased by 90 centavos per liter and P1.05 per liter, respectively.
Kerosene fell by 25 centavos per liter. Year-to-date net decrease for diesel is at P1.10 per liter and kerosene at 50 centavos per liter.
On the other hand, gasoline’s net increase is at P6 per liter.