• CHERYL G. CRUZ
The pump prices of diesel and kerosene will go down, effective Nov. 19, following three weeks of consecutive increases.
Oil companies announced over the weekend that diesel could go down by P0.60 to P0.80 per liter, kerosene by P0.70 to P0.90/L, and gasoline by P0.60 to P0.80/L. The exact adjustments will be known today. Nov. 18.
“The week-on-week price of Dubai crude has decreased by around $2.10 per barrel,” the Department of Energy Oil Monitor showed, adding that international prices of gasoline and diesel have also decreased week-on-week by about $1.90 and $0.05 per barrel, respectively.
“Tensions in the Middle East eased following targeted Israeli airstrikes on Iran that did not impact oil infrastructure, reducing fears of supply disruption,” the DOE said. “Expectations also remain for a slow easing of rates, which would see the US dollar remain firm that will likely weigh on oil demand.”
Effective Nov. 12, oil companies hiked the per liter price of diesel by P2.10, gasoline by P1.50, and kerosene by P1.20. | CGC
