Fuel Price Rollback Expected Next Week, Oil Firms Say
Several oil firms are expected to impose fuel price rollback next week, according to some industry players.
Nowadays, the prices of petroleum products play a very important role to the country’s economy. Pump price adjustment usually causes significant impact on prices of products and services in the country.
Pump price hike would contribute to the daily burden of Filipino people especially to those who were using public vehicles for a living and to individuals using private vehicles to reach their point of destination.
Some anonymous source from the oil industry said that the prices of petroleum products including gasoline, diesel and kerosene are expected to roll back on Tuesday next week (April 5, 2022).
Unioil announced on their advisory the possible reduction of fuel prices. The impending price rollback will lighten the financial pain of Filipino drivers and motorcycle riders. The company reported that the prices may go down by P2:00 per liter of gasoline and P1.80 per liter of diesel.
The possible price reduction next week will be the second only of the 14 round of price changes this year. The price rollback is considered smaller compared to series of oil price increase.
The price cut estimation is based on cost swings of the Mean of Platts Singapore (MOPS), the regional pricing benchmark adopted by the players of the Philippine downstream oil industry.
Motorists were advised to load up and fill their tanks while the fuel prices are low.
This is a developing story, just visit this website regularly or refresh the page for further updates and information.
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