ABS-CBN
Slight price cuts in fuel expected next week
Motorists can expect a third consecutive rollback in fuel prices next week, with potential decreases for gasoline, diesel, and kerosene.
Industry estimates suggest price reductions ranging from P0.20 to P0.40 for gasoline, P0.20 to P0.40 for diesel, and P0.40 to P0.60 for kerosene.
The Department of Energy-Oil Industry Management Bureau cited the Department of Energy confirming the additional oil supply by April from OPEC+ as a reason for the anticipated rollback.
Weaker demand in oil due to signs of a possible economic downturn in the United States and other countries also contributed to the price cuts, according to Assistant Director Rodela Romero of the DOE Oil Industry Management Bureau.
The price adjustments will take effect on Tuesday, March 18, based on the previous trading days of Mean of Platts Singapore.
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Fuel companies are implementing a price rollback for diesel by ₱0.20 per liter and for kerosene by ₱0.40 per liter starting March 18.
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Motorists can expect another round of fuel price rollbacks starting Tuesday, March 11, with significant price reductions for gasoline, diesel, and kerosene.
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Fuel prices are projected to increase next week, ending a three-week streak of rollbacks, with estimated per-liter hikes of P1.00 to P1.20 for gasoline, P0.30 to P0.50 for diesel, and P0.20 to P0.40 for kerosene.
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