Oil Price Rollback Set Next Week, Gasoline Stations Say
FUEL PRICE UPDATE – Various gasoline stations in the country are set to implement an oil price rollback starting next week.
Motorists may soon experience another round of relief as fuel prices are expected to go down again next week, with diesel leading the rollback for the third straight time.
Based on early trading data from the global oil market, fuel price adjustment may look like the following:
- Diesel – P8 to P10 per liter
- Kerosene – P11 per liter
- Gasoline – P1 per liter
These figures are still subject to change since one trading day remains before final adjustments are set. Local oil companies base their pricing on the Mean of Platts Singapore, a widely used benchmark for refined fuel in the region.
Official announcements are usually made every Monday and implemented the next day.
The expected rollback comes after weeks of rising fuel costs driven by tensions in the Middle East. Since late February, diesel prices have seen sharp increases due to concerns over supply disruptions.
However, recent developments suggest a possible easing of tensions among key countries, which has helped lower global oil prices.
Despite this, the market remains unstable. Oil prices recently climbed again after news that a major shipping route, the Strait of Hormuz, might not reopen due to ongoing security concerns. This shows how quickly prices can shift depending on global events.
If the projected rollback pushes through, diesel prices may drop closer to the P100 per liter level. This could ease the burden on drivers and public transport operators who have been dealing with high fuel costs in recent weeks.
Still, experts warn that the situation is not fully stable. Any new developments abroad could quickly affect prices again, so motorists are advised to stay alert for further changes.
This is a developing report, just visit this website regularly or refresh the page for further updates.
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