Better than nothing.
Expect to pay less than P0.20 per liter for gasoline, P0.20 to P0.40 per liter for diesel, and P0.30 to P0.35 per liter for kerosene when you gas up on Tuesday (August 6) as oil companies are expected to implement a new round of oil price rollback next week.
Department of Energy-Oil Industry Management Bureau Director III Rodela Romero said, "The downward pressure is attributed to the weakening demand from China and the plans of OPEC to increase supplies in the world market."
"On the other hand, crude oil futures extended gains yesterday due to the escalating geopolitical risk from renewed conflict in the Middle East and the lower US crude inventories," she added.
Oil companies usually announce petroleum price adjustments every Monday for implementation the following day. Last July 30, pump prices declined by P0.75 for gasoline, P0.85 for diesel, and P0.80 for kerosene.
Year-to-date, the total price adjustments have resulted in a P.960 per liter increase for gasoline and P6.85 per liter for diesel. Kerosene has a total net decrease of P0.30 per liter.
In Metro Manila, the prevailing retail prices of gasoline range from P56.00 to P83.80 per liter, diesel ranges from P52.00 to P70.20 per liter, and kerosene from P73.14 to P83.14 per liter, according to the latest data from the DOE price monitoring.
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