The Department of Energy (DOE) announced that fuel prices in the Philippines are expected to decrease by up to P2.50 per liter next week.
Gasoline prices are estimated to drop by P2.30 to P2.50 per liter, diesel by P1.90 to P2.10 per liter, and kerosene by P2.35 to P2.40 per liter.
The final price adjustments will be confirmed on Monday following Friday’s trading.
The rollback is attributed to recession concerns, geopolitical tensions, and sluggish consumption in China, which have outweighed factors that typically drive oil prices up.
Oil markets are expected to remain volatile in the coming weeks.
Source : PhilNews24 | August 10, 2024
