Another round of fuel price cuts expected next week

Pump prices are expected to go down further next week, oil industry sources said Friday.

Citing oil trading in the past four days, an oil industry source told GMA News Online that the price per liter of diesel may be slashed by P0.60 to P0.95.
 
Gasoline prices, meanwhile, may be reduced by P0.30 to P0.60 per liter.

In an interview with Super Radyo dzBB, Department of Energy-Oil Industry Management Bureau Director Rino Abad indicated a rollback of less than P1 for all products. 

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

Effective October 25, fuel firms implemented a per liter decrease in gasoline by P0.35, diesel by P1.10, and P0.45 for kerosene.
 
This brought the year-to-date total adjustments to a net increase of P16.10 per liter for gasoline, P37.40 per liter for diesel, and P29.20 per liter for kerosene.
 
Data from the DOE’s price monitoring, from October 25 to 27, showed the price per liter of gasoline ranging from P62.05 to P72.70 per liter in Quezon City, Metro Manila’s largest city; diesel prices ranged from P76.20 to P80.89 per liter in Makati City, the country’s top financial hub; while in the Philippine capital Manila, kerosene prices ranged from P79.71 to P88.80 per liter. — VBL, GMA News