Diesel, gasoline price rollback expected this week

·1 min read

MOTORISTS have something to look forward this week as fuel pump prices are expected to be rolled back after two straight weeks of hikes.

Based on its fuel forecast for Sept. 6-12, 2022, Unioil Philippines said diesel should go down by P1.50 to P1.70 per liter.

Gasoline, meanwhile, should go down by P2.50 to P2.70 per liter, it said.

The Department of Energy has attributed the expected fuel price rollback to the Covid-19 lockdown measures in China and the hawkish statements of the United States and European central banks signaling more aggressive interest rate hikes to temper inflation.

These economic developments could dampen demand for fuel, thus bringing down prices.

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

Last Tuesday, Aug. 30, fuel firms implemented a per-liter price hike on gasoline by P1.40 and P6.10 for both diesel and kerosene.

The latest price increases brought the year-to-date price adjustments to stand at a net increase of P37.80 per liter for diesel, P19.55 per liter for gasoline and P33.20 per liter for kerosene.