Diesel could go down PHP 2.46 next week, gasoline PHP 1.20
Earlier this week, oil players rolled back fuel prices for the third consecutive week. But unlike the previous weeks wherein diesel was the only one to get a huge price cut, gasoline prices went down PHP 1.95 per liter.
With oil prices continuing to go down, motorists will be happy to know they can save a few more Pesos when visiting the pumps. But could we see another round of fuel rollbacks next week? According to PH Fuel Watch, we can expect diesel and gasoline prices to go down more.
Based on current estimates from the Mean of Platts Singapore (MOPS), the price of diesel could roll back PHP 2.46 per liter. Gasoline, on the other hand, might go down by PHP 1.20 per liter. Should these estimates ring true next week, we won't be surprised to see select filling stations sell gasoline below PHP 60 per liter.
Currently, the price of Brent crude oil is hovering around USD 77.80 per barrel. This is lower than last week's prices which means next week's rollback could indeed happen. But with China planning to ease its restrictions, there could be an uptick in fuel demand which may dampen the expected oil price rollback next week.
We'll be keeping our eyes peeled for any more info about next week's fuel price adjustment. But until then, we're hoping that there will indeed be another round of price decreases come December 13, 2022.