Advertisement

Oil prices seen mixed: Gas up, diesel down

Consumers can expect gasoline prices to go up and diesel prices to go down this week due to the movement of prices in the world oil market.

“Expect fuel prices to have mix movements next week [August 11 to 17],” Unioil Philippines said in its weekly forecast.

“Diesel should go down by P0.20 per liter and gasoline should increase by P0.20 per liter.”

World oil prices have softened amid the ongoing tensions between China and the US. A possible stimulus package for US consumers also raised optimism over world oil prices, but no final agreement among US lawmakers has been reached.

The oil companies implemented a price cut of P0.25 to P0.30 per liter of gasoline on Aug. 4, P0.25 to P0.30 per liter of diesel and P0.15 per liter of kerosene.

The cuts brought the total year-to-date adjustments at a net decrease of P5.02 per liter of gasoline, P8.59 per liter of diesel and P12.69 per liter of kerosene.

Meanwhile, two oil companies have partnered with the Department of Transportation in its Free Ride Service for Health Workers Program, and will continue their fuel assistance for the bus units participating in the program until Aug. 18.

CleanFuel and Petron Corp. expressed their commitment to continue providing a fuel subsidy to several transport vehicle units, and in light of the government’s recent declaration enforcing the Modified Enhanced Community Quarantine or MECQ in Metro Manila and in Bulacan, Cavite, Laguna and Rizal from Aug. 4 to 18.

As a result, the transport companies participating in the Free Ride Service for Health Workers Program may continue to avail themselves of the free fuel donated by the two oil companies to help them save up on fuel expenses, while safely transporting health personnel and other medical frontline workers to their respective medical communities daily.

CleanFuel will allocate 40 liters or 20 vehicle units daily or a total of 800 liters a day until Aug. 18. Its provision of free fuel started on April 8 and ended on May 31.

Petron Corp. has also pledged its continuing support for the Program by giving 50 liters of fuel to 60 vehicle units a day, or a total daily allocation of 3,000 liters.

Petron’s fuel subsidy program was made possible through the donation of San Miguel Corp. Infrastructure. It has been providing its subsidy since April 7, and will continue to do so until Aug. 18.

The Transport department’s Free Ride Service for Health Workers program, which aims to help with the transport needs of medical workers amid the coronavirus diseases 2019 pandemic, has already reached a total ridership of 1,426,885 nationwide as of Aug. 2.

Aside from CleanFuel and Petron, Phoenix Petroleum, Seaoil Philippines and Total Philippines have also partnered with the department in providing free fuel to the participating vehicle units of the Free Ride Service for Health Workers.

Topics: fuel prices , CleanFuel , Petron , Phoenix Petroleum , Seaoil Philippines , Total Philippines , Free Ride Service for Health Workers , Department of Transportation
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementSpeaker GMA
Advertisement