Gas Stations Announced Mix Movements on Pump Prices Next Week
PUMP PRICE ADJUSTMENT – Various gas stations in the country announced mix movements on pump prices next week.
During the previous 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.
Different oil companies in the country will implement mixed movements in the prices of petroleum products including gasoline, diesel, and kerosene. Filipino motorists will have another streak of luck next week in another round of rollback.
Unioil Petroleum Philippines announced gasoline prices may go down by P0.30-P0.50 per liter and P1.80-P2.00 per liter of diesel. However, the pump price adjustments are still subject to change depending on the movement.
Oil Industry Management Bureau Director Rino Abad confirmed the possible rollback for diesel but slight to no adjustment for gasoline. Kerosene prices may also increase or decrease by P1 next week.
Abad said that the current price movement was due to the interest rate hike announced by the European Central Bank after raising its benchmark deposit rate by 50 basis points. The final price change will be announced on Monday.
The Department of Energy released the latest data available showing the year-to-date total adjustments, which stand at P19.30 per liter of gasoline and P34.80 per liter of diesel.
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