Oil prices seen to drop for third straight week – forecast

Metro Manila (CNN Philippines, May 6) — Prices of fuel products are expected to drop for the third straight week, according to the forecast of Unioil Petroleum Philippines.

Oil companies may cut prices of diesel by ₱2.50 to ₱2.70 per liter and gasoline by ₱1.80 to ₱2.00 per liter starting May 9.

Early this week, oil firms reduced per liter prices of diesel by ₱1.30, gasoline by ₱1.50, and kerosene by ₱1.40.

As of April 25, according to the Department of Energy’s oil monitor, there have been per liter increases of ₱7.55 for gasoline, ₱3.05 for diesel, and ₱3.55 for kerosene since the start of 2023.