Gasoline users can look forward to a substantial decrease in their fuel prices this week, the third consecutive rollback for this month.
PH Fuel Watch announced a possible rollback of at least Php 5.00 for gasoline this week
On its Facebook page, fuel price watchdog PH Fuel Watch announced that gasoline fuel will have prices slashed by Php 5.00 to Php 5.50 per liter. Meanwhile, diesel prices will have a more modest rollback of between Php 1.70 and Php 2.20 per liter.
The new prices take effect July 19 and will depend on the station and location.
Cleanfuel posted on its Facebook page that it will peg its fuel price rollbacks at Php 5.00 and Php 2.00 per liter for gasoline and diesel, respectively.
Independent oil player Unioil confirms that its own price reductions will be from Php 4.60 to Php 4.80 per liter for gasoline, and from Php 1.90 to Php 2.20 for diesel. These are on top of discount deals offered by the fuel brand for selected cardholders.
Unioil is offering discounts on top of the fuel price cuts for select customers
Calculations by other oil companies will reportedly result in a reduction of Php 5.30 to Php 5.50 per liter for RON92 gasoline, while RON95 gasoline prices will be slashed between Php 6.50 and Php 6.70 per liter.
Kerosene, which is also used as a base for commercial aviation fuel, will also roll back prices by as much as Php 0.70 per liter.
The new Marcos administration has so far not disclosed its plans on how to address fluctuating fuel prices, after successive increases threatened to bring pump prices to Php 100 per liter.
Cleanfuel is slashing Php 2.00 per liter for diesel
So far, Philippine fuel prices have been heavily influenced by global conditions. International market experts cite fears of an economic recession as a reason for the downward trend in fuel prices, with many countries anticipating reduced demand.
A trend of rising COVID-19 cases in China also contributed to less demand for oil, as the country is currently under new lockdowns following reports of new coronavirus cases this month.
Keep your eyes glued to fuel price movements at Philkotse.com.