Mixed oil price adjustments seen

By Myrna M. Velasco

As the country gears up for wider economic re-opening, the price of kerosene product, which is also considered a base for aviation fuel, is set for an uptick this week by estimated ₱0.60 to ₱0.80 per liter.

Diesel which is the main commodity used by the country’s public transport is likewise anticipated to increase by ₱0.20 to ₱0.30 per liter by Tuesday (June 2), which is the usual price adjustment day of the oil companies.

A financial relief can be momentarily enjoyed by motorists filling up gasoline into their vehicles – as the price of this product is expected to be on a marginal rollback of ₱0.10 to ₱0.25 per liter – or it could even be a "no price movement week" for this commodity.

The Philippine aviation sector and other major oil-consuming industries have been prepping for resumption of operations this week after President Rodrigo Duterte finally downgraded lockdown in the country’s main metropolis to general community quarantine.

It will also be a return-to-work for higher percentage of Filipino workers, hence, it is seen that petroleum sales will be buoyed again after more than two months of slump because of the coronavirus health crisis that practically stalled the movements of people as well as economic activities.