Diesel and kerosene prices are expected to drop by a measly xx per liter as experts forecast a rollback in prices -- the first in nearly 11 weeks.
MANILA — Diesel and kerosene prices are expected to drop by less than a peso per liter as experts forecast a rollback in prices — the first in nearly 11 weeks.
Pump prices, particularly that of diesel and kerosene, saw a spike in prices since July, as major oil players such as Saudi Arabia and Russia announced production cuts that would last until the end of the year. Diesel and gasoline prices will decrease by P0.20 to P0.40 per liter, while the price of kerosene is estimated to decrease by P0.50 to P0.70 per liter.
For the past 11 weeks, diesel prices increased by P17.30 per liter, while kerosene increased by P15.94 per liter. Meanwhile, gasoline prices have increased by P11.85 per liter since July. DOE Oil Management Bureau chief Rino Abad previously said the pump price hikes could have reached peak saturation, allowing supply to meet demand.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Volvo will stop producing diesel-powered vehicles by 2024“Electric powertrains are our future, and superior to combustion engines”
Read more »
DOE sees cut in diesel, kerosene pricesFinally, some good news, Kapamilya. There will be no 12th straight week in oil price hikes as the DOE predicts a cut in diesel and kerosene prices next week.
Read more »
PCSO to launch first e-lottery in PH in NovemberThe Philippine Charity Sweepstakes Office will launch its first-ever online or electronic lottery in November as it downplayed fears that
Read more »
First drive: The BMW i7 M70 is an almighty showcase of electrificationAn electrified beast tamed by engineering
Read more »
Family first: Sheree Bautista to take a pause from sexy rolesSheree Bautista will be shying away from steamy scenes.
Read more »
Verstappen fastest in Japanese Grand Prix first practiceMax Verstappen went fastest on Friday, Sept. 22, in the first practice for the Japanese Grand Prix, as he looks to put one hand on his third straight Formula One title this weekend.
Read more »