Small fuel price cuts set this week

MANILA, Philippines – Minimal price cuts on gasoline products are seen this week with Unioil Philippines warning motorists to expect mixed adjustments.

“Diesel should have no price movement. Gasoline should go down by P0.20 per liter,” it said in an advisory.

This comes a week after gasoline prices were increased by P0.65 per liter, diesel by P0.30 per liter, and kerosene by P0.40 per liter.

Last week, global prices were generally weak as increasing US coronavirus disease cases raised fears of lockdowns, Reuters reported.

The wire service said prices fell further in the week as the Organization of Petroleum Exporting Countries and allies signaled plans to ease supply restrictions.