Good news: Lower oil prices next week

The good news for motorists is fuel prices will go down next week due to lower trading prices in the international market, an industry source said.

Based on the oil trading data from Monday to Friday, a rollback on diesel prices will be sustained with an anticipated P2 to P2.30 cut per liter.

Gasoline will be slashed by P2.10 to P2.40 per liter.

Oil companies announce price adjustments every Monday, effective the following day.

They adjust their prices weekly based on the movement of Mean of Platts Singapore — the regional pricing benchmark adopted by the deregulated downstream oil sector.

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