Pump prices of diesel fuel are expected to go up next week, while gasoline prices are slated to go down, Unioil Petroleum Philippines said in its weekly forecast report.
In its fuel price forecast for the May 31 to June 6, 2022 trading week, Unioil said the price per liter of diesel may increase by P1.00 to P1.20.
Gasoline prices, meanwhile, may be slashed between P1.50 and P1.60 per liter.
Oil companies usually announce price diesel…adjustments every Monday, to be implemented the following day.
On May 24, fuel firms hiked gasoline prices by P3.95 per liter but cut the price of diesel by P2.30 per liter.
Data from the Department of Energy as of May 17 to 20 showed the price per liter of gasoline ranging from P70.75 to P81.55 per liter in Quezon City, while diesel prices range between P72.90 and P79.49 per liter in Manila.
Year-to-date adjustments stand at a net increase of P25.55 per liter for gasoline and P29.10 per liter for diesel.
Last week, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Inc. increased prices per liter of gasoline by P3.95 but slashed diesel by P2.30, and kerosene by P2.45.
Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., PTT Philippines Corp., Total Philippines Corp., and Unioil Petroleum Philippines Inc. made the same changes, excluding kerosene, which they do not carry.