Danessa Rivera (The Philippine Star)
- September 1, 2019 - 12:00am
MANILA, Philippines — Oil companies
are expected to implement minimal cuts on fuel prices this week as global
prices ended the trading week lower as concerns on the global economy continued
to weigh.
Unioil Philippines said in its
advisory that it expects diesel prices to go down by P0.10 to P0.20 per liter.
It added that prices for gasoline could either remain at its current price or
go down by P0.10 per liter.
International crude prices swung
from gains to losses in the past trading week, mainly driven by concerns over
the intensifying US-China trade war and its impact on the world economy.
Oil prices started the previous week
with a two-percent drop on worries about a global economic slowdown, Reuters
reported.
By mid week, prices managed to
recover after US President Donald Trump signified a possible trade deal with
China and as US crude inventory fell.
However, oil prices ended a
three-day winning streak as worries on a slowing global economy
prevailed.
Two weeks ago, local oil firms
rolled back gasoline and diesel prices by P0.10 per liter but raised kerosene
prices by P0.10 per liter.
The latest Department of Energy
(DOE) data showed that the year-to-date adjustments stand at a net increase of
P4.75 per liter for gasoline, P3.35 per liter for diesel and P1.40 per liter
for kerosene.
No comments:
Post a Comment