By Myrna M. Velasco
Prices at the pumps will be on slight rollback this week at the scale of P0.10 per liter for diesel and gasoline; and P0.15 per liter for kerosene products.
That has been based on the outcome of trading of commodities in the international market last week – which by far, had been more steady compared to previous weeks.
As of press time, the oil companies that already advised on price cuts include Pilipinas Shell Petroleum Corporation, Seaoil, Clean Fuel, PetroGazz, Total and PTT Philippines effective on Tuesday (September 3); while the rest of the industry players are anticipated to follow.
As of Friday (August 30) trading, however, prices in the world market started swinging back higher again with the Dubai crude leveling at more than US$58 per barrel.
Given recent global price movements, market watchers continue to keep track to ascertain if next week’s trading will warrant uptrend in prices.