Another round of fuel price rollback expected next week

Pump prices of petroleum products are expected to be slashed for another round in the coming week, which could mark the fifth straight week of fuel price cuts.

In its fuel price forecast for October 4 to 10 trading week, Unioil Petroleum Philippines said the price per liter of diesel may be slashed by P0.50 to P0.60.

Gasoline prices, meanwhile, may go down by P0.40 to P0.50 per liter.

An oil industry source, likewise, told GMA News Online that fuel prices are set for a rollback based on the oil trading data from September 26 to 30.

The source said diesel prices may be reduced by P0.30 to P0.70 per liter, while gasoline prices may decrease by P0.20 to P0.60 per liter.

Oil companies usually announce price adjustments every Monday, to be implemented on the following day.

Effective Tuesday, September 27, fuel firms rolled back the prices of gasoline by P1.65 to P1.75 per liter and reduced diesel prices by P1.25 per liter.

The latest price movements brought the year-to-date adjustments to stand at a net increase of P14.85 per liter for gasoline and P29.40 per liter for diesel.

Data from the Department of Energy as of September 29 showed that the prices per liter of gasoline range from P61.45 to P71.45 in Quezon City, Metro Manila’s largest city, while diesel prices range between P65.90 and P74.84 per liter in Philippine capital Manila. —LBG, GMA News