Gas Stations to Impose Another Oil Price Rollback Next Week
FUEL PRICE UPDATE – Another oil price rollback is expected next week, which will give a sigh of relief to Filipino motorists.
The Department of Energy (DOE) has forecasted lower prices for gasoline, diesel, and kerosene-based on recent trends in the global oil market.
According to the DOE, the price of gasoline might stay the same or decrease by up to P0.20 per liter. Diesel prices are expected to drop by P0.20 to P0.40 per liter, while kerosene could see a decrease of P0.30 to P0.35 per liter.
These expected changes are influenced by lower demand from China and plans by OPEC+ to increase global oil supplies.
However, there are also factors that could affect these rollbacks. Rising tensions in the Middle East and lower U.S. crude oil inventories might keep prices from dropping as much as predicted. This combination of factors means the final adjustments could vary.
Oil companies will announce the official price changes every Monday, with the new rates taking effect the following day.
On July 30, fuel prices were reduced by P0.75 for gasoline, P0.85 for diesel, and P0.80 for kerosene.
The latest year-to-date adjustments indicate that gasoline prices have increased by P9.60 per liter, and diesel prices have risen by P6.90 per liter. In contrast, kerosene prices have seen a net decrease of P0.30 per liter.
Current fuel prices in Metro Manila range from P56.00 to P83.80 per liter for gasoline, P52.00 to P70.20 per liter for diesel, and P73.14 to P83.14 per liter for kerosene.
As the market continues to adjust, drivers should stay tuned for the latest updates and price announcements to take advantage of these potential savings.
This is a developing report, just visit this website regularly or refresh the page for further updates and information.
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