It’s a week of financial relief on consumers’ pockets as prices at the gasoline stations will be on rollback, based on the pricing adjustment advisories of the oil companies.

The industry players announced that the price of diesel will have a relatively hefty cutback of P1.10 per liter; while the price of gasoline will be trimmed by a relatively modest P0.45 per liter.

For kerosene, which is a base fuel for aviation and also an essential commodity for households and industries, will also be reduced by P1.05 per liter, according to the oil firms.

As of this writing, the oil companies that already advised on price reductions effective Tuesday (November 7) had been Shell Pilipinas Corporation, Cleanfuel, Seaoil, PetroGazz and Chevron; while their competitor-firms are all anticipated to follow.

The industry players would be adjusting prices based on the swing of prices in the international market as anchored on the Mean of Platts Singapore (MOPS); which propitiously had tracked downtrend last week.

This year’s constant seesaw in global oil prices came as a weekly surprise for consumers – as even well-entrenched players cannot often guess at times whether the routine adjustments at the pumps will fluctuate upwards or downwards on a weekly basis.

There had been episodes of relentless price spikes that had placed the economy on the edge; and that had also thrown Filipino consumers on a jittery situation when it comes to managing their weekly budgets not just at the fuel pumps but also for the costs of basic goods and services because fuel prices will always have its inflationary impact through supply chains.

The roughly three months of price escalations in July to September had primarily precipitated din of protests – especially for the country’s public transport sector, especially when fuel subsidies are not coming as they are needed.

As a heavily import-dependent economy, the Philippines does not have much leeway to manage the weekly volatile fuel pricing – because even the country’s journey into electric mobility is not a trend that will soon be reigning on domestic roads.

Onward, there are no clear directions yet how prices will shape next week, but for Filipino consumers, they would always be wishing for next rounds of rollback at the pumps.