Consumers can anticipate significant relief as oil companies project substantial price cuts across fuel types next week.
Gasoline prices are expected to decrease by P0.70 to P1.10 per liter, diesel by P0.80 to P1.20 per liter, and kerosene by P0.75 to P1.15 per liter based on regional market trading outcomes.
The Mean of Platts Singapore (MOPS) reference indicates even larger reductions: P1.00 per liter for gasoline, P1.129 per liter for diesel, and P1.117 per liter for kerosene.
These upcoming decreases come after a series of price hikes that have strained consumer budgets throughout the past month, with cumulative increases of P10.85 per liter for gasoline, P9.05 per liter for diesel, and P2.35 per liter for kerosene in 2024.
Source: PhilNews24 | July 13, 2024
