Oil Firms Announced Mixed Pump Price Adjustment Next Week
OIL PRICE ADJUSTMENT – Several oil companies in the country announced mixed pump price adjustment next.
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 contributed to the daily burden of Filipino people, especially those who were in the public transport sector. Price rollbacks can somehow ease the struggles of Filipino drivers.
Various gasoline stations in the country told Filipino motorists to embrace for mixed changes in prices of petroleum products including gasoline, diesel, and kerosene in the coming week.
According to an oil industry source, the prices of gasoline may increase while diesel prices could go down. The forecast was based on oil trading in the past four days (September 12-15).
Gasoline prices may increase by P0.30 to P0.60 per liter while diesel prices could be slashed by P2.80 to P3.10 per liter.
The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) Director Rino Abad confirmed the high possibility of rollback for diesel and kerosene. Big-time price rollback amounting to P3 per liter is expected next week.
“Unfortunately, for gasoline, we are not yet sure. This may have no change or may have a slight increase,” Abad said.
However, the project price adjustment is still subject to change. Oil companies usually make announcements every Monday and impose price changes on the following day.
DOE also released the year-to-date price adjustments, which stand to a total net increase of P16.50 per liter of gasoline, P34.80 per liter of diesel, and P29.90 per liter of kerosene as of September 13, 2022.
What can you say about the looming price changes? Just feel free to leave your comments and reactions to this article.
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