Various gasoline stations in the country are expected to impose another rounds of oil price rollback next week.

An oil industry source announced a possible oil price rollback of more than P1.50 to P1.75 per liter for gasoline and diesel, P1 per liter of kerosene. However, the projected fuel prices are still subject to change.

Big-Time Oil Price Rollback Expected on Tuesday (December 12, 2023), DOE Says

FUEL PRICE UPDATE – The Department of Energy said that a big-time oil price rollback is expected next week.

Filipino motorists will get a sigh of relief as gasoline, diesel, and kerosene prices are expected to drop on Tuesday (December 12, 2023).

According to experts in the oil industry, there might be a big-time oil price rollback of more than P1.50 to P1.75 per liter for gasoline and diesel. Kerosene could also see a price cut of over P1.

Rodela Romero, the assistant director of the Department of Energy (DOE) Oil Industry Management Bureau, shared that the results of the recent four-day trading period suggest potential rollbacks of more than P1 per liter for diesel, gasoline, and kerosene.

Another source in the oil industry hinted that the price movement for the upcoming week could be a reduction ranging between P1.80 and P1.90 per liter for diesel and a decrease of P1.70 to P1.90 per liter for gasoline.

Cleanfuel also expressed that the trend points may lead to a possible drop of P1.80 per liter in the prices of both diesel and gasoline. The projected oil prices are still subject to change within the next few days.

Drivers need to be updated about adjustments to prices because they immediately affect the cost of fueling up at the gas station. Gas stations are set to announce the final price adjustments on Monday and implement it on the following day.

Last week, local oil firms implemented mixed price changes at the pump. While gasoline and kerosene prices jumped by P0.30 per liter and P0.20 per liter, respectively, diesel prices dropped by P0.30 per liter.

This is a developing report, just visit this website regularly or refresh the page for further updates.