By Myrna Velasco
Consumers will be enjoying another round of token petroleum price rollbacks at the scale of P0.25 per liter for diesel; and P0.10 per liter for gasoline products.
(REUTERS/ MANILA BULLETIN)
This batch of price cuts had been initiated by Clean Fuel, one of the deregulated downstream oil sector’s independent players. Its price adjustments will be effective 4:01pm on Sunday (November 3); while the rest of the industry players are anticipated to follow.
As initially assessed on the outcome of four-day trading in the world market, gasoline prices will likely be rolled back by P0.25 to P0.35 per liter; and diesel by P0.10 to P0.20 per liter.
Most of the oil companies, being their usual course, will be adjusting prices by Tuesday (November 5) - and may enforce price cuts disparate from what has been implemented by Clean Fuel.
On the other hand, the price of liquefied petroleum gas (LPG) which is the cooking fuel commodity for households, will be higher for this month of November.
Leading oil firm Petron Corporation announced LPG price increase of P0.30 per kilogram for its Gasul brand effective November 1 (Friday) at 12:01am; while its autoLPG for vehicles had gone up by P0.20 per liter.
Its competitor Isla LPG which carries the Solane brand had jacked up its price by P0.24 per kilogram (exclusive yet of value added tax) effective November 1 at 6:00 am.