After a series of increases, motorists can expect relief on Tuesday when fuel prices are expected to fall by P2, an industry player said on Saturday.
According to the forecast of fuel firm Unioil, fuel prices are expected to go down starting 7 to 13 February 2023.
Diesel, on the other hand, will be reduced by P2.60 to P2.80 per liter, while gasoline prices should go down by P1.90 to P2.00 per liter, Unioil said in a Facebook post.
Kerosene is seen to go down from P2.40 to P2.80 per liter.
In a separate radio interview, Department of Energy-Oil Industry Management Bureau director Rino Abad confirmed oil prices to plummet next week.
Transport owners elated
With this, the UV Express National Alliance of the Philippines said they are elated about the big-time rollback.
“We expect that this will continue in the following week, as our members also reel from the high prices of commodities,” said Exequiel Longares, the group president.
Last Tuesday, motorists endured P1.30 per liter price adjustments for gasoline, P1 for diesel, and P1.35 for kerosene.
Starting this year, a P7.20 per liter price increase was logged for gasoline, P3.05 per liter for diesel, and P4.45 per liter for kerosene.