Insignificant Fuel Price Rollback Seen Next Week

Insignificant Fuel Price Rollback Seen Next Week

After two consecutive fuel price increase, we are now expecting a slight rollback on the prices of fuel. Insignificant as they may be, fuel rollback is always better than fuel increase.

Insignificant Fuel Price Rollback Seen Next Week

According to oil industry sources, citing oil trading in the past four days, the price per liter of diesel may go down by Php 0.40 to Php 0.70.

On the other hand, gasoline prices may be go down by Php 0.20 to Php 0.50 per liter.

As usual, we can expect the price adjustment announcement on Monday and the implementation on the next day—Tuesday.

In an interview on Super Radyo dzBB, Oil Industry Management Bureau (OIMB) Director Rino Abad said, “Mataas ang indikasyon na magkaka-rollback [next] week (There is a high indication of a rollback next week).”

However, he said that the expected fuel price rollback will be less than Php 1 per liter.

Last Tuesday, October 18, fuel firms implemented a per liter increase in gasoline by Php 0.80, diesel by Php 2.70 and Php 2.90 for kerosene. a

The latest price movements brought the year-to-date adjustments to stand at a net increase of Php 16.45 per liter for gasoline, Php 38.50 per liter for diesel, and Php 29.65 per liter for kerosene.

Source: GMA News Online

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