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Manila Bulletin devider Business devider Gasoline prices to go up; diesel on slight rollback

Gasoline prices to go up; diesel on slight rollback

Published Aug 8, 2020 02:46 pm

Prices of gasoline products at Philippine pumps will go up next week by P0.20 to P0.30 per liter, according to the calculation of the oil industry players.

For diesel, the expectation is a rollback of P0.15 to P0.20 liter; and the same goes with kerosene products at the scale of P0.30 to P0.40 per liter.

According to the oil companies, the initial estimates had been based on the outcome of trading in the regional market last week, primarily anchored on the Mean of Platts Singapore (MOPS), which is the pricing reference for importation of finished petroleum producers by the independent players.

Cost swings are expected on Tuesday (August 11) -- in keeping with the routine of the oil companies in adjusting the prices of their commodities at retail level.

In many gasoline stations, consumers may also see a reduction in prices at the pumps because the oil companies will already revert costs minus the P1.50 to P1.70 per liter impact of the 10-percent import duty implemented in May and June.

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