Another oil price rollback seen next week

February 11, 2023 Edd Reyes 125 views

ANOTHER big-time price rollback on kerosene and diesel products, with a meager price cut on gasoline, is expected this coming week.

The Oil Industry Management Bureau of the Department of Energy (DOE) estimated the decrease of diesel by around P2.39 per liter, kerosene by P2.37 per liter, and P0.11 centavos per liter on gasoline.

The price adjustments on petroleum products are usually announced by major and independent oil firms on Monday and will take effect the following day, Tuesday.

If the price cut is implemented, this will be the second week of price rollback on petroleum products after three consecutive weeks of pump price increases.