Update on Prices of Diesel, Kerosene amid Drop in their Global Market Trading Value
PRICES OF DIESEL, KEROSENE – The world market trading reportedly suggests another drop in the costs of diesel and kerosene next week.
Many people are affected by the rising or falling of the costs of fuel across the globe. In the Philippines, there are a lot of private vehicle owners aside from the fact that many Filipinos are earning through driving public utility vehicles (PUVs). There are among the people who are greatly affected by the oil price hikes.
Beginning January 2022, there were several oil price increases that led to the prices of diesel and kerosene to reach P90 per liter in some fuel stations for some time. Then. several transport groups, PUV drivers, and private vehicle owners called for the suspension of the fuel excise tax.
Malacañang reacted to the call. The Palace refused to suspend the fuel excise tax explaining to the public that the fund is intended for the projects of the government. The current government prefers giving ayuda over suspending the fuel excise tax.
Meanwhile, the recent oil price rollbacks have greatly helped ease the costs of fuel down. There were around five (5) recent rollbacks that pulled the costs of diesel, kerosene, and gasoline.
The usual implementation of oil price decreases is on Tuesdays. Recently, there is an update about the possible decrease in the prices of diesel and kerosene next week.
Based on a report on ABS-CBN News, the forecast of the possible drop in the prices of diesel and kerosene is based on the fall of their value in the world market trading. The cost of diesel may decrease by P0.90 to P1.20 per liter while kerosene price may drop between P0.20 to P0.50 per liter.
However, with regards to gasoline, there are two (2) predictions – the cost may slightly increase by P0.10 per liter or it may decrease up to P0.20 per liter.
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