Industry News

DOE: Diesel prices could go down by P12/L, gas by P5/L next week

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Eager to hear some positive fuel-related news? After weeks and weeks of price hikes, we all are. Lucky for you, we do have some good news: The Department of Energy (DOE) is expecting to see a major fuel-price rollback next week. Finally.

According to DOE secretary Alfonso Cusi, the average price of oil per barrel in Dubai has gone down from $122.61 per barrel to $104.79 per barrel over the past week. If this trend were to continue, Cusi said we could see prices go down by around P5 per liter for gasoline and about P12 per liter for diesel, basically negating this week’s big-time price hike.

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If you can afford to, you might want to hold off on your trip to the gas station in case the DOE’s projections hold true come next week. There’s still a long way to go before we see diesel and gasoline prices go back to normal, but at this point, we’ll take any price rollback we can get. It’s better than seeing the numbers go all the way up to P100/L.

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