Big-Time Rollback on Prices of Petroleum Products to be Imposed by Oil Firms Starting Next Week
Several oil firms are set to impose a big-time rollback on prices of petroleum products starting next week.
Over the past few months, the pump prices were having a slight movement due to the impact of the coronavirus pandemic. The oil price adjustments also affect the price of grocery products and basic commodities.
Recently, numerous oil companies in the country announced that they are set to implement price reductions on petroleum products starting Tuesday next week (September 15, 2020).
The industry players also made a calculation stating that the rollback might range from P1.50 to P1.60 per liter for diesel products, P0.95 to P1.15 per liter of gasoline, and P1.40 to P1.50 per liter of kerosene.
The huge price reductions would be the heftiest so far since consumers are hoping to save more money for the upcoming Christmas season. It was due to the massive decline of oil prices in the global market.
The global experts were thinking that the overall demand for oil commodities is on gradual recovery. Industry watchers are also looking at the phenomenon that would last until 2022 as there is no exact time when will the pandemic end.
Read Also: Oil Firms Set To Impose Hike on Prices of Petroleum Products This Week
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Read Also: Oil Firms To Impose Price Rollback on Prices of Petroleum Products This Week
