Oil firms expected to slash fuel prices next week

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Metro Manila (CNN Philippines, August 6) — Oil companies are expected to impose a rollback on the prices of fuel products from Aug. 9 to 15, the Unioil Petroleum Philippines said on Saturday.

According to the forecast, firms will slash per-liter prices of gasoline by ₱2.00 to ₱2.20 and of diesel by ₱1.90 to ₱2.10.

Last week, per-liter rates of gasoline rose by ₱0.75, while those of diesel fell by ₱0.60 and of kerosene by ₱0.75.

The Department of Energy said net price increases since the start of the year for gasoline, diesel and kerosene stood at ₱19.65, ₱32.35, and ₱27.30 per liter, respectively, as of Aug. 2.