Oil Prices Set for Rollback Next Week After Four Weeks of Hikes

After four consecutive weeks of oil price hikes, we could finally see a break next week. Experts are expecting a price rollback, which should provide some relief to motorists.

Here are the estimated oil price rollbacks for next week:

• Diesel: Php 1.50 – ₱1.70 per liter decrease
• Gasoline: Php 0.40 – ₱0.60 per liter decrease
• Kerosene: Php 1.20 – ₱1.40 per liter decrease

This good news comes from the results of five trading days in the Mean of Platts Singapore (MOPS). The main factors driving the expected rollback are OPEC+’s announcement of a possible increase in oil production by September and the ongoing uncertainties over the global impact of US tariffs.