Fuel price rollback seen on Sept. 1
MANILA, Philippines — Motorists will save on expensive fuel costs as local oil companies plan to cut prices by as much as P4 per liter next week.
In an advisory, Jetti Petroleum Leo Bellas said the per-liter price of diesel may go down by P3.50 to P4.
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On one hand, gasoline prices may also dip by 25 centavos to 75 centavos.
“Prices declined this week as threatened US sanctions fell short of the market’s expectations and viewed the economic pressure as a lower-risk path for physical supply than a military escalation, reducing the oil market’s anxiety and easing immediate supply concerns,” Bellas said.
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Bellas’ estimates were based on the first four days of trading at the Mean of Platts Singapore (MOPS), and foreign exchange movements. MOPS is the basis for the pricing of refined petroleum products in Southeast Asia. /pai
