OIL prices are seen to drop by P1 to P2.70 per liter starting Tuesday, September 6, 2022.

In a fuel forecast for September 6 to 12, Unioil Philippines said prices of petroleum could drop by as much as P2.70 per liter.

Diesel prices are expected to go down by P1.50 to P1.70 per liter.

The price of gasoline is also seen to decrease by P2.50 to P2.70 per liter.

The rollback was after two straight weeks of big-time oil price hikes.

Prices of gasoline and diesel increased by P6.10 and P1.40 per liter, respectively, on August 30.

Among the factors that caused the price increase was the movement of oil prices in the world market given the increase in demand. (SunStar Philippines)