MANILA, Philippines—Motorists may expect another fuel price rollback this weekend as world oil prices continue to soften.

Energy Secretary Angelo Reyes on Thursday said that with a few days remaining in August, local oil firms had some leeway to bring down pump prices, in light of the lower international prices this month.

“August should exhibit a lower average price than July. We’re very optimistic some more price reductions are forthcoming,” Reyes said in a briefing.

“Our computations show there should still be reductions, but the market could prove me wrong,” he qualified, as local oil firms had yet to advise the Department of Energy of any price movements at press time.

The expected price rollback would hardly satisfy the Bagong Alyansang Makabayan (Bayan, New Patriotic Alliance), however.

The militant group said it was still joining labor and transport groups in demanding a “substantial” price rollback by the oil companies—not the staggered 50 centavo and P1 rollbacks implemented the past weeks.

“The rollback should be at least P6 to P7, which is roughly equivalent to the oil price hikes in May and June. We are concerned it is taking the oil companies forever to give consumers substantial relief from the high oil prices,” said Bayan secretary general Renato Reyes Jr. in a statement.

“The oil firms are quick to raise prices, but are unbearably slow when it comes to lowering [them]. The small rollbacks, while welcome, are not enough given the huge increases over the past few months,” Reyes said.

Following last weekend’s P1 per liter rollback, the pump price of premium unleaded gasoline now ranges from P55.45 to P57.26 a liter, diesel P53.30 to P56 and kerosene P56.80 to P58.76.

The rollback was the fourth for gasoline for a total of P4.50 a liter and the third for diesel and kerosene for a total of P2.50 a liter this month alone.

Apart from fuel, Bayan’s Reyes said the government should also do something to stem the rising prices of bread, canned goods and other food items.

“Inflation has already reached 11.4 percent, the highest in 14 years, and all the government does is tell us the [value-added tax] is good for us. This surely doesn’t make much sense given the severe economic burden on the people and the ensuing economic slowdown facing the country,” he said.

Bayan and other groups on Thursday staged simultaneous noise barrages in different areas to call for a fuel price rollback and for removal of the VAT on petroleum products.