P4 fuel price rollback聽poised for Holy Week
Inquirer file photo
MANILA, Philippines — Oil companies are expected to implement a huge drop of up to P4.10 per liter in pump prices next week, amid the trade tensions involving major economies, industry sources said.
In an advisory on Saturday, Jetti Philippines said the per-liter price of diesel may decrease by P2.90 to P3.10.
Gasoline will have a bigger cut of P3.90 to P4.10 a liter.
Unioil did not provide figures, but said the motoring public can see “significant price rollback.”
READ:
Gov’t estimate
Rodela Romero, assistant director of the Department of Energy-Oil Industry Management Bureau, likewise saw downward adjustments in fuel prices.
She said gasoline will have a rollback ranging from P3.30 to P3.75 per liter.
Diesel may also see a reduction of P2.90 to P3.40 a liter, while kerosene prices may also fall by P3.40 to P3.50 per liter.
Romero said this could be attributed to the “escalated trade tensions between the United States and China resulting in fear of recession and reduced demand for crude oil.”
She added that the decision of the Organization of the Petroleum Exporting Countries or Opec to increase production by May influenced the slash in fuel prices.
Fuel retailers will announce the official price adjustments by Monday.
