Oil Firms Say Motorists to Expect Fuel Price Rollback Starting Next Week
Several oil firms are expecting a fuel price rollback starting next week, which will give a relief to the Filipino motorists.
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.
The consecutive oil price hike during the past few months contribute to the daily burden of Filipino people especially to those who were in public transport sector. Price rollbacks can somehow ease the struggles of Filipino drivers.
The oil companies in the country are expecting a rollback in the prices of petroleum products including gasoline, diesel, and kerosene. The expected rollback will snap the five straight weeks of price hikes.
The oil industry said that motorists can expect a relief next week due to the expected price reduction. The expected price adjustment will likely end the five straight weeks of price hikes for diesel and four consecutive weeks of hikes for gasoline.
Unioil Petroleum Philippines said that the price of diesel might go down by P2.80 to P2.90 per liter while gasoline prices may reduce by P0.10 per liter or have no price change for July 5 to 11 trading week.
However, the expected price adjustments are still subject to change within the next few days. Gasoline stations usually make an official announcement every Monday and impose price changes the following day.
The Department of Energy also released the total net increase, which stands at P30 per liter for gasoline and P45.90 per liter for diesel.
What can you say about the expected price rollback? Just feel free to leave your comments and reactions to this article.