Danessa Rivera (The Philippine Star)
- March 31, 2019 - 12:00am
MANILA, Philippines — After weeks of
price increases, motorists will be able to get a fuel price reduction next
week.
Unioil Philippines said minimal
price rollbacks are expected on pump products.
Diesel should decrease by 30 to 40
centavos and gasoline should decrease by 5 to 10 centavos per liter, Unioil
said.
This comes after seven consecutive
weeks of gasoline price hikes and the two successive increases for diesel and
kerosene.
At the start of the trading week,
international oil prices slipped due to concerns of a sharp economic slowdown.
This kept oil prices at bay for most of the week.
However, worries over a cut in
Organization of Petroleum Exporting Countries (OPEC) production and US
sanctions against Iran and Venezuela pushed crude prices higher by the end of
the week.
Last week, local oil firms raised
gasoline prices by 65 centavos per liter while diesel and kerosene prices were
raised by 10 centavos per liter.
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