Fuel Forecast: Price cuts on diesel, gas expected next week

This week, oil companies implemented a rollback where gasoline prices went down by PHP 1.40 per liter, and diesel prices were cut by PHP 0.70 per liter. Now that the week is ending, we're getting closer to another round of adjustments for Tuesday, May 2.

According to Oil Industry Management Bureau Asst. Director Rodela Romero, motorists can look forward to lower fuel prices next week. Based on this week's trading, gasoline is estimated to roll back by around PHP 1.20-1.44 per liter, while diesel and kerosene could have their prices slashed by another PHP 1.00-1.20 per liter and PHP 1.00-1.10 per liter, respectively.

While the final figures could still vary depending on the results of the last trading day in the global market, this incoming adjustment will see diesel prices go down for the third consecutive week. At the same time, gasoline will have a second successive week of price cuts.

Brent crude is currently hovering at around USD 78.81 per barrel, while WTI is trading for USD 75.16 per barrel. The two benchmarks have declined further from last week's figures, which is also a reason why there's an incoming rollback on Tuesday.

So if you still have plenty of fuel left in your vehicles' tanks, you may be better off scheduling your top-up next week.