Rollback eyed for diesel; marginal increase for gasoline

Published August 22, 2020, 12:22 PM

by Myrna M. Velasco

 It will be another mixed cost movements for fuel commodities next week, with slight rollback of P0.15 to P0.30 per liter for diesel, which is a socially sensitive product generally used by the transport sector.

For gasoline products, industry players indicated probable marginal increase of P0.10 to P0.20 per liter, while kerosene prices may likely be on rollback also of P0.15 to P0.25 per liter.

Prices at the domestic pumps will be adjusted on Tuesday (August 25), taking on the usual course of cost movements in the deregulated oil industry. Price swings are generally anchored on trends set off by the Mean of Platts Singapore.

There had not been massive cost movements in recent weeks, as global oil prices had been more constant at $42 to $45 per barrel across basket of crudes.

 The main factor that will trigger possible nosedive in prices in the coming weeks, according to experts, would be the economic recession reports of most economies or countries, given the affliction of the coronavirus pandemic.

 For an import-dependent country like the Philippines, that will entail probable softening of prices that could set off respite in the pockets of consumers in the coming week.