Gas Stations to Impose Mixed Oil Price Adjustments Next Week
Mixed oil price adjustments are expected next week following a round of fuel price hike over the past few weeks.
Fuel prices are constantly in the spotlight as they impact the daily lives of consumers and businesses alike. With the ever-changing global oil market dynamics, fuel prices are subject to fluctuations that can affect the economy and the cost of living.
As we look ahead to the coming week, fuel prices are anticipated to have mixed movements, with various factors influencing their direction.
After a recent round of fuel price hikes, it is expected that oil pump prices will have mixed movements in the upcoming week.
According to Unioil Petroleum Philippines’ fuel price projection for the trading week of April 18-24, diesel could drop by P0.30 to P0.40 per liter, while gasoline may remain stable or decline by P0.10 per liter.
Every Monday, gas stations announce pricing changes, which are put into effect the following day. Fuel companies raised the price of a liter of gasoline by P2.60, diesel by P1.70, and kerosene by P1.90, last Tuesday, April 11, 2023.
As a result of these changes, the year-to-date net decrease for diesel is P1.95 per liter, and the year-to-date net decrease for kerosene is P3.45 per liter. Gasoline, on the other hand, has seen a net increase of P8.65 per liter.
Keeping track of fuel price forecasts, announcements from oil companies, and changes in government policies or taxes related to fuel can help individuals and businesses make informed decisions about their fuel consumption and expenses.
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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