Motorists can expect a sigh of relief in the coming week as pump prices of petroleum products are expected to go down, snapping five straight weeks of price hikes for diesel and four consecutive weeks of increase for gasoline.
In its fuel price forecast for the July 5 to 11 trading days, Unioil Petroleum Philippines said the price per liter of diesel may be slashed by P2.80 to P2.90.An oil industry source, likewise, told GMA News Online that diesel prices may roll back by P3.10 to P3.30 while gasoline prices may also decrease between P0.20 and P0.40 per liter.
The expected price reduction for gasoline, however, may be offset by premium cost, according to the industry source. Sought for comment, Department of Energy-Oil Industry Management Bureau Director Rino Abad cited two major factors for the expected fuel price rollback:effect of various interest hikes all over the world which depress economic activity and ultimately fuel demand.Oil companies usually announce price adjustments every Monday to be implemented on the following day.by P0.50 per liter and diesel by P1.
Data from the Department of Energy, as of June 30, show gasoline prices range from P77.90 to P89.61 in Quezon City — Metro Manila’s largest city — while diesel prices range between P86.65 and P91.01 per liter in Manila — the country’s capital.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CNPF sets P2 B capex, sees higher revenuesCentury Pacific Food Inc. (CNPF) is allotting P2 billion for capital expenditures this year, 20 percent lower than the P2.5 billion it spend in 2021, in light of rising inflation.
Read more »
LPG prices to go down effective July 1, 2022Households should breathe a sigh of relief next month as liquefied petroleum gas (LPG) prices are expected to be slashed effective Friday, July 1.
Read more »
LPG prices to go down P0.40/kg“Petron will implement a P0.40 per kg rollback (VAT-inclusive) in LPG prices. AutoLPG prices will likewise rollback by P0.22/li at the same time. These reflect the international contract price of LPG for themonth of July,” Petron Corp. said in- Read more👇
Read more »
Avril Lavigne recreates her iconic 'Let Go' album cover from 2002The 'Sk8er Boi' singer surprises her fans as she recreated her iconic debut album 'Let Go.'
Read more »
Marcos to seek help from partner countries to address climate changePresident Ferdinand "Bongbong" Marcos Jr. has put the issue of climate change mitigation at the forefront of his administration’s priorities.
Read more »