Diesel prices seen to go up, gasoline to roll back next week

Motorists shall expect pump prices of petroleum products to have mixed movements in the coming week, according to Unioil Petroleum Philippines.

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 adjustments every Monday, to be implemented on the following day.

Effective May 24, fuel firms hiked gasoline prices by P3.95 per liter while reducing the price per liter of diesel by P2.30.

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. —Ted Cordero/KG, GMA News