Diesel, gasoline prices may drop as much as P2/liter next week

ABS-CBN News

Posted at Dec 03 2022 11:46 AM

Motorists queue for fuel at a gas station in Pasig City on October 10, 2022
Motorists queue for fuel at a gas station in Pasig City on October 10, 2022

MANILA - Diesel and gasoline prices may drop as much as P2 per liter next week as industry experts forecast a third straight rollback in fuel prices on Tuesday. 

Diesel prices will decrease by P1.70 to P2 per liter, while gasoline prices may see a P1.90 to P2.10 per liter reduction. 

Kerosene will have a P1.30 to P1.60 per liter decrease. 

Industry experts factored in anew the "sluggish domestic demand" in China due to the government's stringent COVID-19 restrictions. 

China over the week loosened COVID-19 restrictions. 

Over the year's course, gasoline prices have increased by P17.75 per liter, P33.85 per liter for diesel, and P26.85 per liter for diesel. 

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-- Report from Alvin Elchico, ABS-CBN News