Diesel, kerosene rollback seen next week; gasoline forecast mixed

Motorists can expect the pump prices of petroleum products to have mixed movements in the coming week.

An oil industry source told GMA News Online that, based on oil trading in the past four days (September 12-15), diesel prices could be slashed by P2.80 to P3.10 per liter.

Gasoline, meanwhile, may increase by P0.30 to P0.60 per liter.

In an interview on Super Radyo dzBB, Department of Energy-Oil Industry Management Bureau (DOE-OIMB) Director Rino Abad confirmed that there was a high indication of a rollback for diesel and kerosene.

Abad said the estimated price decrease next week was around P2.50 to P3.00 per liter for diesel, while for kerosene, it was “around P3 per liter.”

“Unfortunately, for gasoline, we are not yet sure. This may have no change or may have a slight increase,” the Energy official said in a mix of Filipino and English.

Oil companies usually announce price adjustments every Monday to be implemented on the following day.

Effective Tuesday, September 13, 2022, fuel firms implemented a per liter price reduction in gasoline by P0.45, diesel by P1.45, and kerosene by P1.70.

The latest price rollbacks brought the year-to-date price adjustments to a net increase of P16.50 per liter for gasoline, P34.80 per liter for diesel, and P29.90 per liter for kerosene.

As of September 13 to 15, 2022, DOE data showed the price of gasoline in Quezon City, Metro Manila’s largest city, ranged from P63.30 to P73.10 per liter.

Diesel prices range from P75.80 to P80.10 in Makati City, the country’s top financial hub, while in the Philippine capital Manila, kerosene prices range from P80.41 to P89.00 per liter. — DVM, GMA News