Gas Companies Announce Possible Oil Price Rollback Starting Next Week
Several gas companies is expecting another oil price rollback starting next week for the fourth straight week.
Nowadays, the prices of petroleum products play a very important role to the country’s economy. Pump price adjustment usually causes a major 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.
Various oil companies in the country announced another round of rollback on prices of petroleum products including gasoline, diesel, and kerosene. It will mark the fourth consecutive week of rollbacks.
Unioil Petroleum Philippines claimed that the prices of gasoline may go down by P1.50 to P1.60 per liter and P1.20 to P1.30 per liter of diesel for the September 27 to October 3 trading week.
According to an oil industry source, gasoline prices may be reduced by P1.40 to P1.70 per liter and P1.00 to P1.30 per liter of diesel. However, the projected oil price adjustment will be subject to change.
Oil firms usually announce price adjustments every Monday and impose changes every Tuesday.
The Department of Energy released the latest data available showing the year-to-date adjustments, which stand at a total net increase of P30.65 per liter of diesel, and P25.45 per liter of kerosene, while gasoline remains at a net increase of P16.50 per liter.
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