Oil industry experts predict pump prices of petroleum products will decline for the fourth straight week.
For instance, Unioil Petroleum Philippines, In its fuel price forecast for September 27 to October 3 trading week, said the price per liter of diesel may be slashed by P1.20 to P1.30.
The prices of gasoline are also expected to may go down by P1.50 to P1.60 per liter.
A source also told GMA News Online that the pump price of diesel may decrease by P1.00 to P1.30 per liter while gasoline prices may be reduced by P1.40 to P1.70 per liter.
Fuel companies are wont to announcing price adjustments every Monday, for implementation the day after.
Last September 20, oil companies cut down the price per liter of diesel and kerosene by P4.15 and P4.45, respectively, while no movement has been effected on the price of gasoline.
The latest price adjustments brought the year-to-date adjustments to stand at a net increase of P30.65 per liter for diesel, P25.45 per liter for kerosene, while gasoline remains at a net increase of P16.50 per liter.
Data from the Department of Energy as of September 15 showed the price per liter of gasoline range from P63.10 to P73.10 per liter in Quezon City, Metro Manila’s largest city; diesel prices range from P75.80 to P80.10 in Makati City, the country’s top financial hub; while in Philippine capital Manila, kerosene prices range from P80.41 to P89.00 per liter.