After three weeks of increase, oil prices are expected to drop by as much as P3.10 per liter this week.
The prices of diesel may go down by P2.60 to P3.10 per liter, while those of gasoline may decrease by P1.90 to P2.40 per liter, an oil industry source said.
Kerosene prices are expected to drop at P2.40 to P2.80 per liter.
On Saturday, Feb. 4, fuel company Unioil issued a fuel forecast saying prices of diesel and gasoline will go down on Feb. 7.
“Diesel should go down by P2.60 to P2.80 per liter. Gasoline should go down by P1.90 to P2.00 per liter. Load up accordingly,” the company said in a post on Twitter.
Oil companies usually announce price adjustments every Monday, to be implemented on the following day.
Data from the Department of Energy’s price monitoring for Jan. 31 to Feb. 2 showed that the price per liter of gasoline ranges from P63.30 to P72.05 per liter in Quezon City, Metro Manila’s largest city; diesel prices range from P64.03 to P72.55 per liter in Makati City, the country’s top financial hub; while in Philippine capital Manila, kerosene prices range from P76.36 to P82.10 per liter.
The latest price movements resulted in a total net increase this year to stand at P7.20 per liter for gasoline, P3.05 per liter for diesel, and P4.45 per liter for kerosene. (GMA Integrated News)
