Diesel, gasoline price rollback seen this week

MOTORISTS could take a breather in the coming week as pump prices of petroleum products are expected to go down.This came after five straight weeks of price hikes for diesel and four consecutive weeks of increase for gasoline.Based on its fuel price forecast for the July 5 to 11 trading days, Unioil Philippines said the price per liter of diesel could go down by P2.80 to P2.90.Gasoline prices may also go down by P0.10 per liter or stay unchanged.Oil companies usually announce price adjustments every Monday to be implemented on the following day.Last Tuesday, June 28, fuel firms hiked gasoline prices by P0.50 per liter and diesel by P1.65 per liter, bringing the year-to-date fuel price adjustments to stand at a net increase of P30 per liter for gasoline and P45.90 per liter for diesel.