It's expected that fuel costs would drop next week
Considering how oil has been trading on the global market over the past few days, consumers should expect more reductions in fuel costs next week.
Considering how oil has been trading on the global market over the past few days, consumers should expect more reductions in fuel costs next week.
The price of imported fuel has decreased, with gasoline falling by more than P2/liter, based on the first three trading days:
Despite there being two trading days remaining, Leo Bellas, the president of Jetti Petroleum, already predicts a continuation of rollbacks in the Philippines next week.
According to Bellas, the primary causes are the ceasefire, the potential for Israel and Hamas to reach a peace deal in Gaza, and the US's growing oil reserves.
According to Bellas, as long as things in Gaza get better and there are no new geopolitical issues that could jeopardize the supply of oil, prices on the global market might continue to decline.
Retail fuel costs have decreased over the past three weeks, totaling P2.30/L for diesel and P1 for gasoline, which has decreased for the past two weeks.
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