Motorists filling up their vehicles with diesel will experience a breather this week, as the price of this commodity will be down by P0.40 per liter, based on the pricing adjustment advisories of the oil companies.
As of this writing, the industry players that already announced their price adjustments had been Pilipinas Shell Petroleum Corporation, Seaoil, and Cleanfuel effective Tuesday ; while their competitor-firms are all anticipated to follow. There had been seesaw in prices in the world market last week because of diverging sentiments manifesting when it comes to projections on supply and demand - primarily in the second half of the year.
However, due to the forecast of OPEC that demand will likely be weak during the second half of this year, prices dropped to the level of $84 per barrel for most of trading days last week.