Diesel, on the other, will have a leaner price hike of P0.45 per liter, while kerosene will also incur a relatively marginal increase of P0.35 per liter.
Filipino motorists have been grappling with the wild seesaw in prices again at the pumps as the oil pricing compass still swings in uncertain direction in every week of global trading. The Chinese market weighed heavily on how world oil prices shaped recently – starting with price softening due to the lower-than-expected economic growth reported by this Asian super power earlier last week.
Within the region, what is being closely watched by traders is South Korea’s prospective decision on whether or not it will allow extension of its retail oil tax cuts until next month.
Source: News Formal (newsformal.com)
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