Big-time fuel price rollback seen next week

Fuel pump prices are expected to be rolled back for another round in the coming week, which could mark the fourth straight week of price cuts for petroleum products.

Citing oil trading in the past four days (December 5 to 8), an oil industry source told GMA News Online that the price per liter of diesel may be slashed by P3.00 to P3.30.

Gasoline prices, meanwhile, may be reduced by P1.40 to P1.70 per liter.

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

Effective Tuesday, December 5, fuel firms implemented a per liter price reduction in gasoline by P1.95, diesel by P1.90, and kerosene by P1.65.

The latest price adjustment brought the year-to-date adjustment to stand at a net increase of P15.8 per liter for gasoline, P31.95 per liter for diesel, and P26.2 per liter for kerosene.

Data from the Department of Energy’s price monitoring, as of November 29 to December 3, showed the price per liter of gasoline range from P60.45 to P71.25 per liter in Quezon City, Metro Manila’s largest city; diesel prices range from P66.10 to P76.05 per liter in Makati City, the country’s top financial hub; while in Philippine capital Manila, kerosene prices range from P75.71 to P84.35 per liter.  —KBK, GMA Integrated News