With the easing of quarantine protocols this week, Filipino motorists can benefit from the marginal rollback in pump prices implemented by the oil companies at the scale of P0.25 per liter for gasoline, and P0.10 per liter for kerosene products.
Based on the pricing adjustment notices sent by the oil companies, they also apprised consumers that the price of diesel will be unchanged or there will be no movement this week.
As of this writing, the oil firms that already advised on their price reductions had been Pilipinas Shell Petroleum Corporation, Seaoil, Cleanfuel, PetroGazz, Total and Chevron effective on Tuesday (April 13); while their competitor-firms will follow this week’s pricing trends.
With the shift to modified enhanced community quarantine (MECQ) in the so-called NCR plus bubble, there is high expectation that more vehicles will be plying thoroughfares especially Metro Manila, the country’s economic center.
That will then drive up demand for fuel commodities and the slight cutback in pump prices will prove beneficial to consumers.
Globally, the developments continually being monitored are those on the possible price influence of the decision of the Organization of the Petroleum Exporting Countries (OPEC); as well as the rate of Covid infections and the pace of vaccination programs of various countries in the world.
Within the Asia Pacific region, the scheduled maintenance shutdowns of several refineries are also seen exerting pressure on prices; but that shall be reckoned on the obvious heavier impact of the lingering pandemic.