MANILA, Philippines — Gasoline costs are anticipated to rise subsequent week after per week of rollbacks, whereas diesel and kerosene are prone to proceed their downward development, the Division of Power stated on Friday, August 15.
Based mostly on the previous 4 days of buying and selling, gasoline could enhance by round P0.50 per liter, as diesel and kerosene are projected to drop by P0.70 and P1 per liter, respectively.
Different business estimates recommend gasoline costs might rise by as a lot as P0.60 per liter, whereas diesel could decline as much as P0.90 per liter.
The DOE’s Oil Trade Administration Bureau stated the anticipated cuts in gas costs stem from elevated manufacturing by the Group of the Petroleum Exporting Nations (OPEC+) and different affiliated nations, coupled with a forecasted 1.38-million-barrel-per-day development in world demand in 2026.
Talks between the USA and Russia over potential peace negotiations in Ukraine are additionally being monitored, because the US warned of additional sanctions if no ceasefire is agreed upon. This might influence oil provides from Russia, a major world producer, and presumably elevate costs.
Pump costs fell on August 12, with oil companies decreasing gasoline by P0.40 per liter, diesel by P1.50, and kerosene by P1.30 as crude costs available in the market declined. This ended weeks of hikes fueled by provide considerations.
Based mostly on DOE monitoring, the prevailing retail costs of petroleum merchandise in Metro Manila from August 5 to 11, earlier than this week’s rollback, are:
- Gasoline (RON97/100) – P68.18
- Gasoline (RON95) – P58.80
- Gasoline (RON91) – P55.30
- Diesel – P56
- Diesel Plus – P67.40
- Kerosene – P74.90
Oil companies will announce the ultimate value changes on Monday, August 18, as soon as the final buying and selling day confirms value traits.
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