• CHERYL G. CRUZ
The third consecutive week of price rollback for diesel and kerosene, and the second for gasoline, is expected tomorrow, Nov. 14.
Oil companies announced over the weekend that diesel could go down by P2.80 to P3.00 per liter, gasoline by P0.50 to P0.70/L, and kerosene by P1.90 to P2.20/L.
The exact adjustments will be known today, Nov. 13.
On Nov. 7, oil companies also reduced the prices of diesel, gasoline, and kerosene by P1.10, P0.45, and P1.05 per liter, respectively.
These price adjustments resulted in a net increase of P9.35/liter for diesel, P13.75/liter for gasoline, and P3.99/liter for kerosene, since the start of this year.
“The week-on-week price of Dubai crude has decreased by more than $2.40/bbl. MOPS gasoline, diesel, and kerosene prices have also decreased by around $1.20, $2.60, and $2.00 per barrel, respectively,” the Department of Energy Oil Monitor showed.
It added that crude prices eased as worries about potential supply disruptions from the Middle East subsided. “Nonetheless, the market is closely watching the developments as the situation could change very rapidly.” | CGC
