Motorists gas up on Monday, October 8, 2018, as they anticipate another round of oil price hike on Tuesday. Tina Panganiban-Perez

Diesel price rollback may be at least P2.60/liter, gasoline P1.90/liter —industry source

An oil industry source on Sunday said motorists may expect price rollbacks of diesel and gasoline 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, the source said, according to GMA Integrated News reporter Tina Panganiban-Perez on Twitter.

On Saturday, fuel company Unioil issued a fuel forecast saying prices of diesel and gasoline will go down on February 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.

Local oil industry sources meanwhile on Friday said a rollback in the prices of fuel products is to be expected after three straight weeks of hikes.

Citing oil trading from January 30 to February 2, an oil industry source told GMA News Online that the price per liter of diesel may be slashed by P2.40 to P2.70.

Gasoline prices, meanwhile, may be reduced by P1.90 to P2.20 per liter.

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 January 31 to February 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. —KG, GMA Integrated News

This article Diesel price rollback may be at least P2.60/liter, gasoline P1.90/liter —industry source was originally published in GMA News Online.

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