Fuel price rollback seen next week —oil industry sources

After two consecutive weeks of price rollbacks, motorists can expect another round of cuts in pump prices of petroleum products next week, oil industry sources said Saturday.

In its weekly fuel forecast for November 5 to 11, Unioil Petroleum Philippines said the price per liter of diesel is expected to go down by P0.20 to P0.30 while gasoline may be slashed by P0.10 to P0.15 per liter.

Another oil industry source said the price of diesel may be reduced by up to P0.30 and gasoline by up to P0.15.

Fuel firms usually announce price adjustment every Monday of the week, to be implemented the following day.

Early this week, oil companies implemented for the second week in a row a rollback on its fuel products.

Petro Gazz, Petron, Phoenix Petroleum Philippines, Pilipinas Shell Petroleum, PTT Philippines, SEAOIL Philippines, and TOTAL Philippines lowered the prices per liter of gasoline by P0.45 and diesel by P0.10.

Latest data from the Department of Energy, as of October 24, showed gasoline prices range between P44.35 and P56.90 per liter and diesel by P38.80 to P43.88 per liter.

Year-to-date adjustments stood at a net increase of P5.61 per liter for gasoline and P4.02 per liter for diesel. —Ted Cordero/LBG, GMA News