Oil price rollback expected this week

Published April 8, 2018, 5:24 PM

by Francine Ciasico

By Bella Gamotea

Following a series of oil price hikes, pump prices are expected to be rolled back this week, the Department of Energy (DOE) said over the weekend.

A gasoline worker puts gas to a gas tank of a car at a gas station in Quezon City Photo by: Mark Balmores/Manila Bulletin

The DOE sees a possible rollback of P0.40-P0.50 per liter of gasoline and P0.25-P0.35 per liter of diesel.
The price of kerosene is expected to stay the same.

Just last April 3, local oil companies hiked the pump prices by P0.90 per liter of gasoline and P1 per liter of diesel.

Adjustment in world market prices is credited for the impending rollback.

 

 
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