• CHERYL G. CRUZ
After four weeks of successive increases, the pump prices of petroleum products will roll back, effective tomorrow, Oct. 22.
Oil companies announced over the weekend that diesel could go down by P0.90 to P1 per liter, gasoline by P0.30 to P0.50/L, and kerosene by P0.80 to P1.10/L.
The exact adjustments will be known today, Oct. 21, with oil companies regularly implementing the price movements every Tuesday.
On Oct. 15, oil companies implemented an increase of P2.60-P2.65/liter for gasoline, P2.70/liter for diesel, and P2.60/liter for kerosene.
The Department of Energy said the crude oil market has been significantly impacted by rising tensions between Israel and Iran, and other factors that also affect the domestic pricing.
The latest adjustment resulted in a net increase of P9.05/liter and P6.75/liter, respectively, for gasoline and diesel, since the start of this year, while kerosene logged a total net decrease of P2.75/liter, as per the DOE Oil Monitor. | CGC
