Motorists to get Price Rollback on Diesel, Gasoline, and Kerosene Next Week
Blue car at gas station filled with fuel. Closeup woman hand pumping gasoline fuel in car at gas station.
woman refuel car petrol pump filling gas at gas pump.
After two weeks of oil price hikes, motorists could finally get a sigh of relief next week as oil companies in the country are expected to implement a price rollback for diesel, gasoline, and kerosene.
The expected rollback is not anticipated to reach 1 peso per liter, but it is still a welcome change for everyday motorists.
Oil market experts have estimated the price adjustments for next week. For diesel, a rollback of 0.40 to 0.60 pesos per liter is expected, while gasoline could see a decrease of 0.60 to 0.80 pesos per liter. Kerosene might experience a rollback of up to 1 peso per liter, although this is less likely based on current projections. Still, it is expected to be lower than 0.80 pesos per liter.
One of the reasons for the upcoming rollback is the ongoing concern over the oversupply of fuel products in the US, while Saudi Arabia has expressed plans to increase production to meet global demand which could lead to oversupply in the market for the next upcoming weeks.
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