Update on Diesel, Gasoline Price Forecast for Next Week
GASOLINE PRICE – The cost of gasoline is expected to go up next week while a rollback is seen on the cost of diesel.
Among the products with an unstable price is oil. It is market-based as what the Department of Energy often reiterates. Its cost is also one of those prices that affect a lot of people.
The drivers of the public utility vehicles (PUVs) and private vehicle owners are among those who are greatly affected by the changes in the price of oil from time to time. Several businesses are also affected by the unstable costs.
This 2022, there were months when the gasoline price as well as the costs of diesel and kerosene were so high that PUV drivers had to seek help from the government. Fuel vouchers were released to some of the drivers to help them amid the high costs of fuel. A lot of drivers expressed that they can barely bring home an amount that is enough for the needs in their household.
Meanwhile, the previous rollbacks have greatly helped in pulling down the prices of fuel in the Philippines. However, it will always be market-based thus changes are really inevitable. There are usually forecasts on whether there would be oil price hike or rollback a week before and fuel companies confirm it on a Monday to be implemented the following day.
For next week, based on a report on GMA News, the oil price is expected to go up but a rollback is seen for diesel. A source of GMA claimed that the rollback on diesel is expected between P0.30 to P0.50 per liter.
With regards to the forecast on the increase on gasoline price next week, based on the report, it is seen between P0.10 to P0.30 per liter. Speaking to Super Radyo dzBB, Oil Industry Management Bureau Director Rino Abad said that the expected increase not only on gasoline but as well as kerosene is not more than P1.00.
More updates may be posted soon.
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