Heads up, everyone! We’re looking at a possible PHP 3.81USD 0.06INR 6EUR 0.06CNY 0.47 gas price hike next week. According to constant updates from the PH Fuel Watch, an increase in gas is more likely than a rollback, despite a small downtrend in its global pricing. Speaking of a downtrend, it might not all be bad news for us.
Gas price may increase, but diesel may go down
Yes, those who use gasoline are in for another wallet-crunching adjustment, but diesel prices are anticipated to go down for next week. According to the trends and online sources, diesel may roll back by PHP 2.43USD 0.04INR 4EUR 0.04CNY 0.30 per liter. Just this week, diesel prices were cut by PHP 3.10USD 0.05INR 4EUR 0.05CNY 0.38, and this is very welcome news for those who use it.
Photo: PH Fuel Watch Facebook Page
The continued shifts in petroleum product prices are a result of the eastern European crisis. With the European Union strongly considering placing an embargo on oil products from Russia, that could result in even higher prices across the globe and not just in the Philippines.
Take note that these diesel and gas price adjustments are estimates, and they may still change until the day of. In the meantime, you can read our quick guide on how to lower your vehicle’s fuel consumption here on this link. Every peso, and every drop of fuel counts.
