Fuel prices are seen going down for the second straight week by Tuesday, with the Department of Energy forecasting a rollback of under one peso for all products. READ:
In an interview with Super Radyo dzBB, DOE Oil Industry Management Bureau Director Rino Abad indicated the rollback, which sources said would be about P0.60 to P0.95 per liter of diesel and P0.30 to P0.60 per liter of gasoline.
Data from the DOE’s price monitoring from October 25 to 27, showed the price per liter of gasoline ranging from P62.05 to P72.70 per liter in Quezon City, Metro Manila’s largest city.Diesel prices ranged from P76.20 to P80.89 per liter in Makati City, the country’s top financial hub, while in the capital Manila, kerosene prices ranged from P79.71 to P88.80 per liter.
In filing Senate Bill No. 380, Gatchalian is adamant the PNOC should refocus its mandate exclusively on oil and gas exploration and development. However, he noted that in the case of PNOC, which was created almost 50 years ago in 1973, the company has engaged in various activities far from its original mandate, which is to provide an adequate and stable supply of petroleum products to meet the domestic requirement and to promote the exploration and development of local petroleum sources.