Gasoline price rollback; diesel, kerosene hike seen next week

Motorists should expect a mixed movement in pump prices to be implemented by fuel retailers in the coming week.

Citing industry estimates, based on four-day international trading, Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said that “there would be a mixed movement of adjustments in the prices of petroleum products next week.”

The estimated adjustments to be implemented are as follows:

• Gasoline - decrease of P0.50 to P0.70 per liter
• Diesel - increase of P0.40 to P0.70 per liter
• Kerosene - increase of P0.15 to P0.35 per liter

For the expected increase in diesel and kerosene prices, Romero cited a report about Israel deliberating an attack on Iran’s oil infrastructure, which could result in a possible supply disruption.

Also influencing a possible price hike were “disruptions in oil and gas in Southeast US due to Hurricane Helene.”

For the anticipated rollback, the Energy official attributed the emerging development to “balance of weak global demand growth and a positive supply outlook.”

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

Effective Tuesday, October 1, fuel firms implemented an increase of P0.45 per liter for gasoline, P0.90 per liter for diesel, and P0.30 per liter for kerosene.

This resulted in total year-to-date adjustment for gasoline and diesel to stand at a net increase of P6.40 per liter and P2.85 per liter, respectively, while kerosene has a total net decrease of P6.05 per liter.

--VAL, GMA Integrated News