Oil Firms to Implement Mixed Oil Price Movements Next Week, Gasoline Prices Seen to Rollback While Diesel Prices to Go Up
Oil industry source expects a rollback on gasoline prices while diesel prices are expected to increase next week.
Over the past few months, the prices of petroleum products play a very important role to the country’s economy. Pump price adjustment usually causes significant impact on prices of products and services in the country.
The consecutive oil price hike during the past few months contribute to the daily burden of Filipino people especially to those who were in public transport sector. Price rollbacks can somehow ease the struggles of Filipino drivers.
Several oil companies in the country will implement another price adjustment starting next week. Filipino motorists shall expect mixed movements in pump prices of petroleum products including gasoline, diesel, and kerosene.
Unioil Petroleum Philippines reported that the price of diesel may go up by P1.00 to P1.20 per liter while gasoline prices may reduce by P1.50 to P1.60 per liter for the May 31 to June 6, 2022 trading week.
However, the expected price movement may still vary. Oil firms usually release official announcement regarding the price changes every Monday and implements adjustments every Tuesday.
The Department of Energy has also released the latest year-to-date adjustments showing a total net increase of P25.55 per liter of gasoline and P29.10 per liter of diesel.
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