Fuel price rollback expected next week | Inquirer News

Fuel price rollback expected next week

/ 05:10 AM October 30, 2022
Man filling up car with gasoline at service station. STORY: Fuel price rollback expected next week

File photo by NIÑO JESUS ORBETA / Philippine Daily Inquirer

MANILA, Philippines — Oil companies are expected to implement another fuel price rollback next week but the reduction may not provide much relief to motorists who have been grappling with rising pump costs.

An industry source said the price of diesel might drop by 68 centavos per liter and gasoline by 35 centavos per liter.

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The source, however, said the estimated decrease in gasoline prices might be wiped out due to certain costs related to selling petroleum products.

“Diesel should go down by P0.50 to P0.60 per liter. Gasoline should go down by P0.10 to P0.20 per liter,” said Unioil in its advisory.

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Department of Energy’s Oil Industry Management Bureau Director Rino Abad said that prices of petroleum products were expected to decline by less than a peso. This could be the second straight week that local pump price is on the downtrend.

—JORDEENE B. LAGARE

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