2 weeks Ago
After a round of big-time rollback this week, motorists should brace for an over a peso per liter hike in petroleum prices in the coming week. In its fuel price forecast for the week ending April 17, Jetti Petroleum said the following are the estimated pump price movements next week: “While the heightened global economic uncertainties due to trade tensions continue to weigh on demand, prices have rallied on concerns about global supplies following US pressure on Iran over its nuclear program, and after the United States imposed new sanctions to curb Iranian oil exports,” Jetti said. “Further adding to supply worries is the OPEC plan for several oil producing members to curb output to compensate for pumping above agreed quotas, and the ongoing peak maintenance season of refineries,” it added.
Other oil firms have yet to announce price adjustments for next week. Fuel firms announce official price adjustments every Monday, to be implemented the following day. Effective Tuesday, April 15, oil companies slashed the prices per liter of gasoline by P3.
60, diesel by P2.90, and kerosene by P3.30.
— RSJ, GMA Integrated News.
