Diesel and gasoline prices are expected to go down Tuesday to mark the fifth straight week of price rollbacks.
In its fuel price projection for the December 7 to 13 trading week, Unioil Petroleum Philippines said the price per liter of diesel will likely decrease by P2.40.
Gasoline prices, on the other hand, may go down by P2.30 per liter.
On Tuesday, Nov. 30, 2021, fuel firms implemented a P1.10 to P1.20 per liter price rollback on gasoline as well as a P0.60 to P0.70 price reduction per liter for diesel.
Year-to-date adjustments stood at a total net increase of P18.10 per liter for gasoline and P15.70 per liter for diesel.
Liquefied petroleum gas (LPG) prices were also slashed by as much as P4.75 per kilo on Dec. 1 or equivalent to a price rollback of oil…P52.25 per 11-kilo tank.
LPG prices ranged from P884 to P1,017 per 11-kilo tank based on the latest monitoring of the Department of Energy.
LPG and oil prices have been declining due to concerns of over renewed COVID spikes and new variants that could dampen demand.