Another Round of Fuel Price Rollback Expected Next Week

Several oil firms eye another round of fuel price rollback starting next week, which will give a relief to Filipino motorists.

The prices of petroleum products play a very important role to the country’s economy. Fuel price adjustment usually causes significant impact on prices of products and services in the country.

The consecutive oil price hike during the past few months contributed to the daily burden of Filipino people, especially those who were in the public transport sector. Price rollbacks can somehow ease the struggles of Filipino drivers.

Various gasoline stations in the Philippines said that there will be another rollback on the prices of petroleum products including gasoline, diesel, and kerosene starting next week.

According to an oil industry source, the prices of gasoline will go down by P0.30 and P0.60 per liter, diesel prices will be slashed by P1.80 to P2.00 per liter and P0.25 to P0.45 per liter of kerosene.

Department of Energy (DOE)-Oil Industry Management Bureau Director Rodela Romero confirmed the possible oil price rollback next week. The projection was based on the four-day trading.

However, the projected oil price adjustments are still subject to changes. Oil firms usually announce price adjustments every Monday and implement the changes every Tuesday.

DOE also released the latest data available showing the year-to-date adjustments, which stand at a total net increase of P17.55 per liter of gasoline and P30.15 per liter of diesel.

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