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Sunday, May 26, 2024

Mixed oil prices up next week: Gas P4 hike, diesel P2.20 cut

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Gasoline prices are expected to go up by as much as P4 per liter next week as the price of diesel may roll back by P2.20.

Based on Unioil Petroleum Philippines’ forecast for the May 24 to 30 trading week, motorists may expect a mixed movement in the pump prices of petroleum products.

Diesel may go down by P2 to P2.20 per liter while gasoline prices may increase by P3.80 to P4.00 per liter.

On May 17, oil firms cut pump prices by as much as P3.10 per liter for diesel, P2.10 per liter for kerosene, and P0.40 per liter for gasoline.

The recent oil price rollback was a reversal of the oil price hike implemented on May 10 where the oil firms increased the price of gasoline and diesel by P4.20 per liter and kerosene by P5.85 per liter.

These resulted in the year-to-date adjustments to stand at a net increase of P22 per liter for gasoline, P34.50 per liter for diesel, and P29.75 per liter for kerosene.

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