Oil Industry Source Says Big-Time Oil Price Rollback Expected Next Week
FUEL PRICE ADJUSTMENT – According to an oil industry source, a big-time oil price rollback is expected next week.
Over the past few decades, 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.
Various oil companies in the country are expecting another round of rollback on prices of petroleum products such as gasoline, diesel, and kerosene. It will mark the fourth straight week of price reduction.
The oil industry source said that gasoline prices may go down by P1.40 to P1.70 per liter while diesel prices will decrease by P3.00 to P3.30. The price rollback is expected to be implemented on Tuesday (December 13, 2022).
Gasoline stations usually announce price adjustments every Monday and implement them every Tuesday. The project price adjustment is still subject to a change.
The Department of Energy has released the latest data available indicating the year-to-date adjustment to stand at a net increase of P15.8 per liter of gasoline, P31.95 per liter of diesel, and P26.2 per liter of kerosene.
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