New round of fuel price cuts seen

Fuel retailers in the Philippines are expected to implement another round of pump price rollbacks next week, industry sources said. In an advisory over the weekend, Unioil said the per-liter price of diesel may be reduced by 20 centavos to 40 centavos. Gasoline prices may also see a cut of 10 centavos to 20 centavos.

Department of Energy-Oil Industry Management Bureau Director Rodela Romero also projected a rollback in fuel prices. According to her, a reduction of 20 centavos may be implemented for gasoline prices. Diesel, meanwhile, may be slashed by 20 centavos to 40 centavos per liter.

The per-liter price of kerosene may also go down by 30 centavos to 35 centavos. If oil companies cut their prices, it would mark the fourth consecutive week of cuts for diesel and kerosene. But Romero said oil companies would implement an upward adjustment ranging from 27 centavos to 30 centavos per kilogram for the liquefied petroleum gas products this month. —LISBET K. ESMAEL

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