Diesel price seen to rollback, gasoline to increase slightly next week

Motorists may expect the price per liter of diesel to roll back for another round while gasoline prices may slightly increase in the coming week.

Citing oil trading monitoring in the past four days (July 25-28), based on the Mean of Platts Singapore (MOPS), an oil industry source told GMA News Online that the price per liter of diesel may be slashed by P1.00 to P1.20.

Gasoline prices, meanwhile, may be increased by P0.50 to P0.70 per liter.

The projected pump price adjustments are still subject to change, according to the oil industry source.
The local oil industry uses MOPS, the daily average of all trading transactions between buyers and sellers of petroleum products as assessed and summarized by Standard and Poor’s Platts.

Oil companies usually announce price adjustments every Monday, to be implemented the following day.
Effective July 26, fuel firms implemented a price decrease in gasoline by P0.40 per liter, diesel by P1.85 per liter, and kerosene by P1.30 per liter.

This brought the year-to-date total adjustments to stand at a net increase of P18.90 per liter for gasoline, P32.95 per liter for diesel and P28.05 per liter for kerosene.

Data from the Department of Energy as of July 26 to 28 showed the price per liter of gasoline range from P67.40 to P77.81 in Quezon City, Metro Manila’s largest city, while diesel range between P74.05 and P77.75 per liter in Manila, the country’s capital city.* (TED CORDERO, AOL, GMA News)