Minimal oil price cut looms anew

For the fifth straight week, prices of gasoline and diesel are expected to be reduced by less than P1 on Tuesday.

According to Unioil Petroleum Philippines, a decrease of P0.50 to P0.60 per liter is likely for diesel, based on its fuel price forecast for 4 to 10 October trading week.

Meanwhile, gasoline prices may be slashed by P0.40 to P0.50 per liter.

On the other hand, industry sources said diesel prices are tipped to go down from P0.30 up to P0.70 per liter, and a P0.20 to P0.60 per liter slash for gasoline.

Kerosene, meanwhile, is seen to have the biggest price drop of P1.10 to P1.20 per liter.

Petroleum firms usually announce price cuts on Mondays, implementable on the next day. If this persists, this will be the 5th time that oil products are slashed.

Last Tuesday, gasoline rolled back P1.65 to P1.75 per liter, while diesel prices were reduced by P1.25 per liter.

As of 29 September, data from the Department of Energy, prices per liter of gasoline range from P61.45 to P71.45 in Quezon City, while diesel prices are between P65.90 and P74.84 per liter in Manila.

Price freeze in devastated areas

Meanwhile, prices of liquefied petroleum gas and kerosene will remain at their current level in provinces and municipalities that were declared under a state of calamity after the devastation of super typhoon "Karding."

"A price freeze for 11KG LPG and kerosene products is now in effect and will remain valid for 15 days upon the declaration of the state of calamity," the DoE Advisory read.

Provinces that have price freezes include Nueva Ecija, Municipalities of Dingalan in Aurora, Macabebe in Pampanga, and San Miguel in Bulacan, lasting until 10 and 11 October, respectively.