Gasoline prices to drop for third consecutive week

MANILA, Philippines — Oil firms are expected to implement mixed adjustments in pump prices during the third week of May. 

Citing four-day trading prices, the Department of Energy announced on Friday that gasoline prices could decrease by up to P0.45 per liter, while kerosene prices may see a maximum increase of P0.20 per liter.

Meanwhile, diesel prices are expected to either increase by P0.20 per liter or decrease by P0.10 per liter.

For the first two weeks of May, oil firms have implemented a rollback in pump prices with gasoline having a markdown by P2 per liter.

The following are the adjustments in oil prices last week:

• Diesel prices - Down by P0.50 per liter
• Kerosene prices- Down by P0.85 per liter

Final price adjustments next week will be announced by oil companies on Monday and would be implemented by Tuesday next week.