PRICES of gasoline may drop by almost P6, diesel by almost P12, and kerosene by almost P9 tomorrow, (Tuesday, March 22), said City Councilor George Goking Monday.
“After 11 straight weeks of hikes, Cagay-anons may expect a sigh of relief tomorrow, (March 22), as pump prices of petroleum products are projected to roll back big time,” he said.
Citing data of oil trading in the past four days based on the Mean of Platts Singapore, Goking said an oil industry source said that the price per liter of diesel may go down by P11.45.
“Gasoline prices, meanwhile, may be slashed by P5.45 per liter,” he said.
The estimated price adjustments, however, said, are still subject to change depending on the day’s trading results, according to Goking, chair of the City Council’s committees on trade and commerce and ways and means.
A Domestic Oil Price Advisory was released Monday, including with the Department of Energy (DOE) and the oil industry already an estimate and the average was done.
“So more or less, for gasoline is P5.45, almost P6, diesel is more than P11, almost P12, and kerosene is almost P9,” said Goking.
The following price rollbacks for gasoline, P5.45 per liter; Kerosene, P8.55 per liter; and for Diesel, P11.45 per liter will be implemented also today by the Pilipinas Shell.
On Tuesday last week, fuel firms hiked diesel by P13.15 per liter, gasoline by P7.10 per liter, and kerosene by P10.50 per liter.
Prices of petroleum products have increased for 11 consecutive weeks since the beginning of the year, bringing the year-to-date adjustments for diesel to a net increase of P30.65 per liter, gasoline at P20.35 per liter, and kerosene at P24.90 per liter.
The government has released fuel subsidies for both public transportation and agriculture sectors to cushion any inflationary impact of the rising fuel prices.
While admitting better conditions surrounding the supply of fuel, Goking reminded that the situation of fuel prices remains volatile. (Ben Balce)
