MOTORISTS can expect another big-time rollback in the prices of petroleum products this week.
Smaller, independent players Unioil Petroleum Philippines Incorporated and Seaoil Philippines Incorporated announced a rollback this week while Phoenix Petroleum Philippines Incorporated, PTT Philippines Corporation and Total Philippines Corporation cut its prices last week.
The so-called "Big 3", which controls more than half of the market, has yet to announce any rollback. The "Big 3" refers to Pilipinas Shell Petroleum Corporation, Petron Corporation and Chevron Philippines.
Unioil, in its weekly fuel forecast for November 12 to 16, said diesel is projected to decrease by P2 to P2.10 per liter, while gasoline is expected to decrease by P2.20 to P2.30 per liter.
"Expect fuel prices to roll back," Unioil said in a statement released on Saturday, November 10.
"Since October 15, 2018, the price of Diesel has decreased by a total [of] P3.10 and the price of gasoline has decreased by a total of P5.55," it added.
Diesel costs P43.55 to P48.79 per liter, while gasoline prices range from P48.75 to P59.07 per liter, according to the latest data from the Department of Energy.
Following the Unioil's weekly fuel forecast, Seaoil said Monday, November 12, that it would slash prices of diesel by P2, gasoline by P2.30, and kerosene by P1.85, beginning 6 a.m., Tuesday, November 13.
"This is to reflect movements in the international petroleum market," Seaoil said in a statement released on Monday.
Phoenix Petroleum Philippines Incorporated lowered the prices of diesel and gasoline by P1 per liter and P1.10 per liter, respectively, on November 4, to allow motorists to "enjoy lower pump prices."
On November 6, PTT Philippines Corporation and Total Philippines Corporation also cut prices of diesel by .90 centavos per liter and gasoline by P1 per liter. (SunStar Philippines)