DOE sees oil price rollback this week

MANILA, Philippines — Motorists can expect a relief this week as local oil companies will likely implement a rollback in the prices of petroleum products.

Zenaida Y. Monsada, director of the Oil Industry Management Bureau at the Department of Energy, made the projection, saying the price rollback could be attributed to weak markets and adequate fuel supply globally.

The biggest rollback in prices might likely be for diesel products, she added.

As of this posting, local oil players have yet to make their respective announcements.