Metro Manila, February 27 ------ After two consecutive price hikes this month, fuel prices are expected to go down next week, an oil industry forecast said.
In its advisory, Unioil Petroleum Philippines said diesel prices may decrease by P1.20 to P1.40 per liter, while the cost of gasoline may be reduced by P0.70 to P0.90 per liter. The adjustment will take effect on Feb. 28 to March 6, 2023. According to the latest oil monitoring of the Department of Energy (DOE), the oil companies implemented a per liter increase of P0.90 for gasoline and P1.05 for diesel effective Feb. 21. Meanwhile, the price of kerosene has fallen by P0.25 per liter.
“These resulted in a year-to-date net decrease for diesel at P1.10 per liter and kerosene at P0.50 per liter," the DOE report read. "Gasoline on the other hand has a net increase of P6.00 per liter."
Source: cnnphilippines.com
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