Fuel Price Rollback Expected Next Week, According to Oil Firms
In a positive development for motorists, a slight decrease in fuel prices is anticipated next week, according to oil firms.
Unioil Petroleum Philippines, a well-known oil company, has said that diesel prices are expected to fall by P0.20 to P0.30 centavos per liter, while gasoline prices are predicted to fall by P0.40 to P0.60 centavos per liter.
The announcement comes after oil firms raised gasoline prices by $1.10 per liter on May 30, while lowering kerosene prices by $0.60 per liter. Diesel prices, on the other hand, stayed steady during this time.
According to the Department of Energy’s latest oil monitoring report, kerosene prices have decreased by 6.75 cents per liter year to date, while diesel prices have decreased by 5.05 cents per liter.
Gasoline costs, on the other hand, have increased by a net of 6.10 per liter.
The anticipated fuel price rollback next week will come as a welcome relief for motorists who have been grappling with high fuel costs in recent months. The decrease, albeit slight, is expected to provide some respite to drivers who have been burdened by rising expenses at the pump.
Fuel prices play a significant role in the daily lives of consumers, particularly for those who heavily rely on vehicles for transportation, such as commuters and business owners. Fluctuations in fuel prices can have a direct impact on household budgets and overall economic activities.
What can you say about the looming oil price rollback? Just feel free to leave your comments and reactions to this article.