Gas goes down next week

Motorists will still get relief in their fuel expenses, albeit minimal, as the round of oil price rollback will be sustained until next week amid easing international prices.

Based on the oil trading data from Monday to Thursday, an industry source said diesel prices are expected to go down by around P1.80 to P2 per liter. Gasoline prices, on the other hand, will slightly decrease by around P0.30 to P0.60 per liter.

Effective this Tuesday, oil companies slashed diesel prices by P2.20 per liter and gasoline by P2.10 per liter. Kerosene prices, on the other hand, declined by P2.55 per liter.

In a radio interview on Friday, Rodela Romero, Department of Energy (DoE) Oil Industry Management Bureau director, confirmed the looming rollback.

Data from the DoE showed that as of 9 August 2022, the cumulative increase in diesel stood at P30.15 per liter and gasoline at P17.55 per liter.

Oil companies announce price adjustments every Monday to be implemented the following morning.

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

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