Fuel price cut expected this week
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Fuel prices are expected to decrease slightly again following a minimal downward price adjustment previously, according to industry sources.
In an advisory over the weekend, Unioil said the price of diesel might go down by 20 to 30 centavos per liter and gasoline by 30 to 50 centavos per liter.
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Earlier, Department of Energy’s Oil Industry Management Bureau Assistant Director Rodela Romero made a similar projection, estimating a decrease of 50 to 80 centavos per liter for gasoline and 20 to 50 centavos per liter for diesel.
Kerosene prices are seen to drop by 20 to 45 centavos per liter.
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The fuel price cut is a result of various factors, Romero said.
“The rollbacks are attributed to the fluctuating demand concerns in China and [the United States] and the expected oil supply from non-Opec (Organization of the Petroleum Exporting Countries) countries that continue to rise,” he added.
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