• CHERYL G. CRUZ
The fourth consecutive week of price rollback for diesel and kerosene, and the third for gasoline, will take effect tomorrow, Nov. 21.
Oil companies announced over the weekend that diesel and gasoline could go down by P0.50 to P0.70 per liter, and kerosene by P0.50 to P0.80/L. The exact price adjustments will be known Monday, Nov. 20.
Effective Nov. 14, oil companies also implemented price rollbacks for diesel, gasoline, and kerosene by P3.00, P0.70, and P2.30 per liter, respectively.
These adjustments resulted in a net increase of P6.35/liter for diesel, P13.05/L for gasoline, and P1.69/L for kerosene since the start of this year, the Department of Energy Oil Monitor showed.
“The week-on-week price of Dubai crude has decreased by more than $4.30/bbl. Similarly, MOPS gasoline, diesel and kerosene prices have also decreased by around $1.20, $7.00, and $4.70 per barrel, respectively,” the DOE said, adding that “crude prices settled lower amid downbeat economic outlooks and easing global supply concerns”. | CGC