Motorists could expect mixed movements in the pump prices of petroleum products in the coming week.
In its fuel price forecast for the March 19 to 25 trading week, Unioil Petroleum Philippines said the following are the estimated adjustments in fuel products: Diesel: Increase by P0.10 to P0.20 per liter Gasoline: Down by P0.10 to P0.20 per literThe Energy Department, citing industry estimates, earlier said that an anticipated rollback in the coming week was uncertain due to conflicting factors affecting petroleum trading in the international market.
Factors that pull oil prices up, however, are the increase in oil demand in the US and India and the drop in US crude inventories, Romero said.“Also, the attack made by Ukraine to the four largest Russian refineries in a single day contributed to the increase of oil prices or the lowering down of the amount of the expected rollbacks,” she said.Oil companies regularly announce price adjustments every Monday which will be effective on the following day.
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