Oil prices go down this week
Credit to Author: Tempo Desk| Date: Sat, 30 Mar 2019 06:35:56 +0000
It will be a reverse track for pump prices of petroleum products this week.
Consumers will finally experience slight price cuts relief with the anticipated rollback of P0.30 to P0.40 for diesel and the very marginal reduction of about P0.10 per liter for gasoline.
The past weeks were generally punishing in the pockets of Filipino consumers because they were encumbered with relentless price spikes that have reached aggregate P8.99 per liter for gasoline and P6.99 per liter for diesel.
But with the minimal softening of prices in the world market last week, cost swings at the Philippine pumps will also be on downward cycle this week.
Prior to this round of adjustment, gasoline prices in Metro Manila were at the average range of P48.60 to P62.54 per liter, with diesel at P40.40 to P49.05 per liter.
For kerosene, which is another vital commodity in Filipino households, prices have been at the scale of P45.40 to P55.20 per liter, based on the monitoring of the Department of Energy. (Myrna Velasco)