• CHERYL G. CRUZ
Another rollback in the prices of petroleum products is expected tomorrow, Nov. 7, with diesel and kerosene likely to decrease by more than P1 per liter.
Oil companies announced over the weekend that diesel could go down by P1 to P1.20/L, kerosene by P0.80 to P1.10/L, and gasoline by P0.50 to P0.60/L.
The exact adjustments will be known today, Nov. 6.
This will be the second consecutive week of price decrement for diesel and kerosene, and the first for gasoline, following mixed movements Oct. 31, at P1.25/L, P1.20/L, and P0.45/L, respectively.
The latest adjustments resulted in a net increase of P10.45/liter for diesel, P14.20/liter for gasoline, and P5.04/liter for kerosene since the start of this year, the Department of Energy Oil Monitor showed.
“Crude prices moved lower, shedding gains from the previous session on the controlled situation since the Israel-Gaza outbreak,” the DOE said, adding that “strong US economic data suggested longer than expected high interest rate environment, posing threat to the demand outlook in the short term.”
The prices of liquefied petroleum gas (LPG) also increased this November.
Regasco LPG prices are up by P0.50 per kg., and P0.45 per kg. for Petron and Solane-branded LPG, inclusive of value-added tax, effective Nov. 1, to reflect the international contract price of LPG for this month. | CGC
