MOTORISTS should expect mixed movements in the retail prices of petroleum products to be implemented next week.
Citing results of international fuel trading in the past four days, Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said the following are the estimated fuel price adjustments:
* gasoline – more or less rollback of P0.80 per liter
* diesel – more or less increase of P0.05 per liter
* kerosene – more or less increase of P0.40 per liter
“Expenses in doing business by the oil companies and other related costs are not yet included in these estimates,” Romero said.
The Energy official attributed the anticipated adjustments in pump prices to heightened geopolitical risks brought by the US action for the European nations to “immediately” stop buying Russian energy or else they will impose tariff on such countries, which “makes oil market bullish.”
“But additional global oil supplies are seen after Iraq resumes oil exports via pipeline to Turkey,” she said.
The Energy official said final adjustments will be determined after September 26’s trading and the inclusion of all related expenses and premiums.
Fuel retailers announce price adjustments every Monday, to be implemented on the following day.
This week, oil companies hiked the prices per liter of gasoline by P1.00, diesel by P0.80, and kerosene by P0.80. (GMA Integrated News)
