MANILA – Prices of oil products are set to drop for a fourth straight week, amid the deflating value of the peso and the escalating conflict between Ukraine and Russia.
The last time gas prices increased was in late August.
Gasoline prices could drop by P1.70 to P2 per liter, while diesel and kerosene by P1.20 to P1.50 per liter.
LPG prices will drop by P1- P2 per liter, as well.
Experts previously accounted lower spending power for the drop in oil prices, as the demand for oil products decreased.
Diesel and kerosene prices have decreased by as much as P7.15, while gasoline prices have decreased by P3.05 per liter. — Report from Alvin Elchico, ABS-CBN News