Slight decreases in the prices of gasoline, diesel and kerosene are expected this week, starting July 8, Tuesday.
Fuel firms forecasted over the weekend that gasoline will go down by P0.80 to P1.00 per liter; diesel by P0.20 to P0.40 per liter; and kerosene by P0.60 - P0.80 per liter.
According to oil firms, the industry estimates are based on the Mean of Platts Singapore in the past four days, with the downward adjustments attributed to several factors, particularly the ceasefire deal between Israel and Iran.
The rollback is boosted by the plan of the Organization of the Petroleum Exporting Countries to increase output and additional supply, and the effect of the United States' tariff on fuel demand.
Last week, fuel firms cut the prices of gasoline by P1.40 per liter, diesel by P1.80 per liter, and kerosene by P2.20 per liter.