Metro Manila, Philippines – Fuel prices are expected to go down starting Aug. 12, according to a forecast.
Unioil Philippines on Saturday, Aug. 9, said firms may cut diesel prices by P1.30 to P1.50 per liter.
It also projected per-liter prices of gasoline may decline by P0.50 to P0.70.
In a Philippine National Agency report, Jetti Petroleum president Leo Bellas attributed the possible downward movement to the additional increases in OPEC+ production and continued tariff uncertainties.
The hopes for a diplomatic end to the Ukraine-Russia war may have also caused the further weakening of oil prices.
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