DOE Says Another Round of Oil Price Rollback Expected Next Week

Another Round of Oil Price Rollback Expected Next Week, Department of Energy Says

The Department of Energy told that Filipino motorists will be greeted another round of oil price rollback next week.

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.

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.

Oil Price Rollback

The oil companies eye another round of rollback on prices of petroleum products including gasoline, diesel, and kerosene. The upcoming price adjustment will mark the third consecutive week of fuel price rollbacks.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) Director Rino Abad confirmed the fuel price reduction for the trading week from September 13 to 19, 2022.

The prices of gasoline will go down by P0.64 per liter, diesel prices will be reduced by P1.52, and kerosene prices will roll back by P1.93.

Oil Price Rollback

Unioil Petroleum Philippines released its fuel price forecast for September 13 to 19, 2022. The firm will impose P1.20 to P1.40 per liter of gasoline and diesel while kerosene prices will go down by P0.40 to P0.50 per liter.

The expected price rollback was due to the lower demand for fuel. Oil firms usually announce price adjustments every Monday and impose changes every Tuesday.

DOE also released data showing the latest year-to-date adjustment, which stands at P16.95 per liter of gasoline, P36.25 per liter of diesel, and P31.60 per liter of kerosene.

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