The prices of kerosene and diesel will increase this week as the country gears up for wider economic reopening amid the coronavirus pandemic.
Kerosene, which is also considered a base for aviation fuel, is set for an uptick by an estimated P0.60 to P0.80 per liter, while diesel, which is the main commodity used by the country’s public transport, is anticipated to increase by P0.20 to P0.30 per liter by Tuesday, which is the usual price adjustment day of the oil companies.
Financial relief will be momentarily enjoyed by motorists as gasoline is expected to be on a marginal rollback of P0.10 to P0.25 per liter or would have no price movement week.
The Philippine aviation sector and other major oil-consuming industries have been prepping for resumption of operations this week after President downgraded the lockdown in Metro Manila to general community quarantine.
A higher percentage of Filipino workers will also return to work. Hence, it is seen that petroleum sales will be buoyed again after more than two months of slump because of the coronavirus health crisis that practically stalled the movements of people as well as economic activities.
But the saga of slight movement in petroleum prices would not end there as some oil companies have yet to implement increases from the 10 percent increase in oil import duty, which could be at the scale of P0.80 to P1.30 per liter. (Myrna Velasco)
(Myrna Velasco)
